Banks Refuse To Foreclose On Homes In 90210 ZIP Code

Dr. Housing Bubble

2012 was a flashback to 2005 real estate.  Bidding wars, flippers, and hungry investors all diving into the market with many purchasing homes without fully analyzing the numbers.  There is a very clear trend in the current housing market and how banks are processing foreclosures.  It is a parallel to what Mr. Getty once said about large loans owed to banks; the bigger your mortgage, the more likely it is that the bank will not foreclose on you in a timely fashion.  I usually browse Beverly Hills real estate as a source of a prime Los Angeles market and also, because many people can understand that this is a selective area.  Today I was looking at my data feed and found it amusing the mix of foreclosures and MLS listed properties.

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