rockerchic

Well At Least Inventory Is Declining [Housing Tracker]

It is interesting that no one is really spending much time discussing the backlogged inventory that is being withheld from appearing on the bank's balance sheets and quarterly reports. By not recording these losses, banks put off till tomorrow of having to show these negative assets which allows them appear 'more stable' than they really are. This tactic prevents massive sell-offs in their stock prices (I should say more massive) which could bankrupt them (are you looking at WaMu today...slaughterhouse meltdown). It would be nice to have analysts do their homework on this and publish the true NOD, pre-forclosure rates that are going to come as a result. I've seen prediction charts and it is a mess... don't even tell me about inventory looking brighter. WaMu is not failing (failed by tomorrow?) because the future is looking brighter, dear.