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Foreclosure glut dampens red hot housing market

…“Distressed inventory competes with non-distressed inventory, dampening the rate of housing price recovery in markets with the heaviest concentrations of distressed real estate,ˮ said appraiser Jonathan Miller, president of Miller Samuel.

“It likely makes lenders more averse to lending in these markets for fear of greater exposure.ˮ

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#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
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