Banks' Housing Report Not as Positive as It Looks
The FDIC released its second-quarter bank call report data yesterday.
The accounting value of residential real estate owned (REO) by banks, properties that have been foreclosed on but not yet disposed of, declined to about $9.5 billion in the second quarter of 2012, from about $11 billion in the first quarter. As a stand-alone data point, the most natural inference one may make is that the residential real estate market, the mortgage market, banking and the economy have stabilized and are now strengthening....490 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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