Last week, I described the Fed divided into three groups: hawks, doves and undecided. After today’s employment report the Fed is a united hawk-nest, and outside the Fed, anxiety-ridden birds have begun to pluck out their own feathers. Like me. The only anxiety refuge from today’s report of October payrolls: dim hope that it’s an outlier.
Properties repossessed by lenders in the third quarter of 2015 had been in the foreclosure process an average of 630 days, and 28 states posted year-over-year increases in the length of time to foreclose. Here’s where bank-owned inventory is likely to be hitting the market soon.