The overwhleming theme here is that inventory should strat being released Q1 2010. It will be a measured release to control values.
Five Star media spin. With all due respect, I believe that to be more brainwashing hogwash by the powers that be in the mortgage industry. It coincides with the next round of mortgage resets due to occur in the same exact time period, this time Alt-A and Option ARMs, and is expected to last at least another year.
These will be new loan failures folks,and higher-end, not some stash they are sitting on.
Read it for yourself. Especially the graph compiled by Credit Suisse economists. This is not new, but has been known for many months since the mortgage meltdown began.
http://www.htlf.com/UserFiles/File/WMG_Perspective_2nd_Quarter_2009_2.pdf