The lenders are hurting themselves and the market by not approving enough short sales, loan restructurings and short refinances, but instead are foreclosuring on properties and not bringing them to the market.
Vacant houses just don't work as a way to prop up home values. There is only one solution, making sure houses are never vacant through short-sales and loan restructurings. Otherwise there is a ripple affect in the community that leads to more and more foreclosures until prices get so low that people from outside areas and investors step in and buy because it it economically profitable for them. - Will Ponder
