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Loan Modification

: Mortgage Lender Implode-o-Meter

Spanish "Ghost Towns", Shadow Inventory, Cooked Books; Spain's 2011 Real Estate Funding Crisis

By Implode-Explode Heavy Industries

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``A flood of inventory awaits a dearth of buyers. Moreover, a huge amount of shadow-inventory is waiting on deck, hoping for better prices so the owners can bail. Unfortunately there is no one to bail to. Spain's official unemployment rate is 20%, and it's quite likely the real unemployment rate is higher.''

Full post as published by Mortgage Lender Implode-o-Meter on December 20, 2010 (boomark / email).

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