Basically the banks had a ton of foreclosures BUT instead of putting them all in the market at once like they first did to try and move them out, (more houses than buyers) which brought prices down, they trickled them out a few at a time, creating a demand. If you want the house price to stay in place, you need more buyers than houses, so when they got smart and held back, things changed.
That's the short version. |
