Diana Olick notes the increase in foreclosure activity is having a direct impact on home values. Yes, White House Administration...she told you so! Real Estate Owned (REO) accounts for 28.9% of nationwide sales.
Of course this data had no negative impact on today's equity market as once again, the Robots merely ignored fundamental data and sent the market higher. Oh silly grandpa, today's market increase was all about the record setting retail sales....more on this in a follow up post.
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