REO Surfwagon

Mr. Mortgage talks about the coming foreclosure wave becoming a tsunami. Methinks someone has a surfing problem, and is getting a bit ahead of himself in anticipation. Not that I could identify an addiction if one bit me in the butt roast.

On the Mythical Unwilling Homeseller

Like bearish bulldogs or dishonest salesmen, unwilling homesellers just don't exist. Oxen see morons, allegedly, whatever that might mean. Calculated Risk provides corrugation (without cardboard) here:

only 16% of the agent-sold residential real estate market—REO and non-REO properties—is a result of unforced or optional listings.

See? Jumbo shrimp are supposed to be fine eating if you can actually get ahold of 'em, but good luck...