[central_va]

Banks sit on property to keep the “value” on the books. They should sell and take the hit but nooo. I would love to own a house in Kalifornia at a reasonable price, so would a lot of people.

[MEGoody]

Banks sit on property to keep the “value” on the books. They should sell and take the hit but nooo.

Buy a bank. . .then you can run it any way you want.

[redgolum]

In some markets, if you start selling all the foreclosed properties the bank holding the mortgage will fail.

As long as they don't sell, they keep the value on the books for the full mortgage amount plus some appreciation. Once they sell, they have to write it down.