Major lenders are repossessing homes in Southern California much faster than they can sell them, a development that could set off a downward spiral of price cuts and more foreclosures.
At some point -- maybe this fall, maybe in 2008 -- the lenders' inventories will grow so large that they will have no choice but to start aggressively cutting prices....
Panic Panic. Is that all that sells papers anymore? Are your sources the guys that said don't buy in 2001? Thought so.
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