Foreclosures made up 20% of U.S. home sales in 3Q

Let the market work, these foreclosures need to be put back on the market. The construction industry will see some rebound trying to bring these distressed properties back into livable shape. The free market will work if left alone to do its job, get big government out of our lives, vote for Ron Paul.

20% are flippers looking for a greater fool to unload upon. Not a sign of a healthy housing market.

6 million more foreclosed homes still sitting on the banks books. They can't release all of them because it'll tank the markets and when the banks sell the properties for a loss they have to show the losses on their books. The homes will continue to go down, until the average American can afford to buy one. Can't do that with decreasing incomes, unemployment, and rising inflation on necessities.

The 10 commissioners the Financial Crisis Inquiry Commission (FCIC) recently came to the conclusion that 34.5% of all mortgages written since 2003, defaulted, with 28% of those being written by private sector financial agents.

"Chuck W" , you don't understand what 'flipper's' do ..."Flipper's" rehab older or out of shape houses UPGRADE those properties into a much improved retail sale condition. Quite to the contrary, they don't 'look for the greater fool to unload on' but, rather, they typically improve the worst areas and improve housing conditions for the entire community.

Many of these Realestate Speculators will lose the homes to Foreclosure again if they can not sell them within 9 months

I feel for those that lost the homes that made up the 20%. Buy AMERICAN MADE and let's get America working again.

So will the banks finance my loan with 5k down on a 30k home with my bad credit and minimal wage job?

Jail the entire real estate industry, from the lying agent/touts, crooked appraisers, and mortgage originators, right up the line to the dirtballs in the investment banks who packaged and sold the mortgage trash. Seize their assets to help defray the costs of the ruinous real estate bubble they caused and profited so handsomely from. And, to the extent that they have any assets to seize, don't forget about the liar-loan liars and house-flipper #$%$ speculators.

Want to LOOSE 25% of your Investment in 24 Months or Less????
Then Listen to the Nat'l Assoc. of Realtors........and Buy a Home Now......

Look how much money in interest these people gave the banks before they are foreclosed on.
They people are wiped out, lose the home and the house is resold. Banks never lose.

Yes Sirree...it sure reminds me of the good old days...with the RTC sales...Thanks to this current administration and the community organizer for all their great efforts....in helping to make us just like Europe.

1 in 5 homes sold last year was a home a family lost due to Obama's economic policies. I'm sure he mentioned this in his State of the Union campaign speech right?

Don't listen to the cabal of thieves, their enablers and cheerleaders. They are trying to seperate you from your money, dont believe them for a second! Cabal of thieves..........

And the NAR made up 80% of US sales stats in 3Q.

Thanks, I'm here all week.

Mark to Market is capitalism. When there is a huge supply and no lending house prices should be cheap. This is another example of why central planning doesn't work. It didn't work for Russian it won't work here.

All big money business in the US is run primarily by and for thieves, real estate is one of the main culprits that has gutted our economy.

I wouldn't buy a house in today's economy. I'm waiting for another 20% drop in home prices before I even consider talking to an agent.

Remember!!!! It's a buyers market. Don't like the price, hold out and sooner or later the seller will either have to lower his prices or take his home off the market.

Bank of America has lied and cheated people out of their homes. The Feds will soon close down the awful bank for massive fraud.

The smallest discounts are generally in places hardest hit by foreclosures. In those markets, so many of the sales are foreclosures that anyone selling a home has to price it very competitively, said Blomquist.
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