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Expert let's move on with a housing -- -- -- because full closures have hit a six year old low -- Can we say that the foreclosure crisis is over very good is -- close this is the crisis over.
Joining us now is Anthony -- miss a professor at George Mason University professor walker the program good to see -- -- Expects or can -- make that bold statement the foreclosure crisis is Obama is that -- to think they decide.
It's it's improving primarily for the same reasons that Peter should decide the Fed has been pumping lots of -- of the market.
And the housing recovery is mostly an investor recovery not a traditional homeowner recovery OK so the second the punch.
Bulls -- the way it goes okay now the initial tone before that punch bowl it is is taken away.
Does this full closure decline of fuel foreclosures does it mean -- more homes are gonna come onto the market.
You know -- -- juice up the housing market some more.
-- yes that it should mean that we should be seeing more inventory released from the market.
Basically from the shadow inventories the banks etc.
There's another problem is that it's not clear that do this -- -- demand.
From consumer it's there and it's not by.
And so since that inventory few buyers these -- all investors so -- -- this -- this -- overseeing pumped up this -- clear it's a real recovery.
OK so -- investors that a doing the -- enough crisis may look a little bit better it is improving.
But at -- Ben Bernanke pulls away the punch bowl and you say we're back to crisis mode is it that -- -- take a look at Las Vegas Las Vegas house prices are going up.
But the problem is they still having 9% of the homes -- Las Vegas -- victim.
We've got investors hedge funds and everything buying up -- in -- cheap money.
Rolling the dice but again it is not really in recovery from the consumer side so again this is soon as it -- the punch bowl away.
-- back at square one you know professor would really appreciate you being with us today you know what you're talking about -- we do appreciate that believe me so at this -- -- -- professor George Mason University thank you -- thanks -- all right.
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