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.
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.