is a good website for real estate information.  They published an article on 12/27 with 4 predicitons for the 2012 real estate market.

We have heard most of these predictions already, from one source or another, but it is always beneficial to read these predictions from sources that have different points of view.

One particularly amazing number they mentioned is “62 years” as in the length of time needed to clear the back log of foreclosures at the current rate the banks are going through them:

Earlier this  year, the New York Times reported that the additional hurdles New York  state courts are requiring banks to leap in the wake of the robo-signing  revelations, like additional settlement meetings with the homeowner to  see if a modification can be brokered, have created a backlog of  foreclosures that it would take 62 years to clear, at the current rate  of foreclosure.

To read the entire article, CLICK HERE