subject: Foreclosure Freeze [print this page] The development is especially troubling given how large the foreclosure market is. Before the scandal erupted, real estate professionals predicted that 41 percent of residential sales this year would be on distressed properties. Typically, distressed properties account for 7 percent.
Since housing is the fuel that in the past seven recessions has pulled the economy out of recession, any further damage couldn't come at a worse time.
