Just as they did two decades ago, US banking regulators are holding a mountain of assets seized from failed banks. This time, though, the government is leaning harder on the private sector to hold and sell more of the $600bn in dud loans, foreclosed buildings and other assets. After the savings-and-loan crisis, the Resolution Trust Corp. sold 89% of the $453bn in assets it got from 747 failed financial institutions in the late 1980s and early 1990s.
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With home prices reaching unprecedented heights and interest rates soaring, the discerning nature of today’s buyers requires all agents to employ every possible advantage. Simply put, cutting corners on staging is a risky move that risks prolonged market presence.