OfflineNEW YORK (CNNMoney) -- Foreclosure filings fell dramatically during the first half of the year as processing delays at the banks, which are strapped with excess inventory of repossessed homes, continued to skew the numbers -- and falsely raise hopes that the housing market is staging a recovery.
Foreclosure filings plunged 29% compared with the same period a year ago and were down 25% from the last six months of 2010, according to the latest report from RealtyTrac, an online marketer of foreclosed properties.
“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light not our darkness that frightens us. Actually, who are you not to be? You are a child of God. Your playing small doesn’t serve the world. There’s nothing enlightened about shrinking so that other people won’t feel insecure around you. We were born to make manifest the glory of God that is within us.”
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the remaining part of the article points out that this is an artificial decline because banks are holding off filing foreclosure notices until longer in the non-payment cycle.
In fact, a final quote points out that "Instead of housing returning to somewhat normal condition by 2014, we're looking at 2015 or even 2016"
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