Key point: Lenders are holding some 850,000 foreclosed homes on their books; another 1.1 million homes are in earlier stages of foreclosure. Dales estimates another three million homes will be foreclosed before the housing market stabilizes.
Since Denver is about 1% of overall US population, that suggests 8,500 total homes are in Denver market on the banks’ books. We sold 7200 condos and 26,200 homes in 2010.
What should we do about it?! Nothing! We can't control this, so there's no sense in stressing about something that might happen. There have been rumors flying around for years.