Why the Credit Pendulum Is Stuck at 'Stupid' - General * US * News * Story - CNBC.com: "The readiness of banks to sell foreclosed properties has led to rising home sales in some areas. But the traditional housing market, the one that involves willing buyers and sellers, is still dead, with transactions lower than they have been for decades.
The recession is the major reason sales are dragging, of course, but it is not the only one. As Dr. Komarovskaya found, buyers once viewed as perfectly qualified are being denied mortgages."
The pendulum had better start swinging back pretty soon.