It has been said so often that it is accepted as fact: In order for the real estate market to “recover,” the glut of foreclosed upon properties must be cleared. “Let the market work.” So said a panel of experts speaking at the National Association of Real Estate Editors’ annual journalism conference here, in a discussion titled “Foreclosure Crisis: When Will It End?” Two of them, anyway. A third panelist said that was bunk; there are people, families, living in those houses, and they were set up to fail by Wall Street.
Reflecting the view of many in the industry, panelist Shaun Rogers, vice president of corporate communications for RE/MAX, said, “We need to sell (distressed) houses and move them through the process.”
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