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Commentary: Banks flood market with REOs

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The following is a collection of reader comments found on Banks should step up efforts with pre-foreclosure, auction sales The 'unbelievable' business of real estate "I agree with you 100 percent that these times call for being positive and truthful. Alan Greenspan told the Wall Street Journal Report last week that we are witnessing a 100-year event. That could possibly mean that in his opinion our housing crisis surpasses that of the great depression of the 1930s. "The truth is, this problem will not be fixed from the top down. It will only be fixed from the bottom up. Courageous positive individuals need to take action now to clear excessive inventory (one house at a time) before pricing will normalize. The banks are failing to sell the pre-foreclosure homes. The banks are failing to auction the foreclosed homes. "Because they failed to be realistic twice, the banks are flooding the market with REOs at depressed prices, sometimes lower than...