Part of the complexity of finding the best business model lies in this fact that borrowers have become more sophisticated and less predictable in their behavior. From viewing homes as homes many have evolved to seeing homes primarily as investments. Socio-economic values have changed. Today, many see foreclosure condition response as a business decision rather than a moral decision. Such decisions are also impelled from the diminishing state of the economy
The many bank-owned properties lacking for-sale signs are, I think, due to this indecision caused by the lack of a business model that deals with the current borrower mindset. I see it as evolutionary justice, the common people getting back at big money profiteers.
Gene
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