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Time has run its course, but some are still in housing crisis mode

Is the foreclosure war over?

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The Boston Herald is asking a poignant question five years after the nation landed in financial distress: Is the foreclosure war over?

Writer Cornelius Chapman believes that it is.

However, he writes, despite falling inventories and rising prices, some academics and political figures are hanging onto crisis mode.

Chapman notes:

Foreclosure petitions have fallen to their lowest level since at least 2006 — before the crisis.

Only a holdout in a cave could fail to see the connection. When supply goes down, prices rise. When prices rise, borrowers can refinance or sell high enough to cover the mortgage.

Source: Boston Herald
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