xsuddensam

Winners and Losers from the Mortgage Mess

The real winners have yet to realize their winnings.

The S&L failures of the late eighty's and early ninety's created a huge inventory of commercial real estate. The Resolution Trust Corporation was created to dispose of all these foreclosed properties and they went out the door at bargain basement prices to those who had CASH available.

When this current mortgage mess washes out, there will be huge inventories of single family homes and condominiums that will sell for pennies on the dollar. There will be so many homes for sale that a similar agency like the RTC will have to handle these sales. Those with cash will be winners this time around.