Direct from the WSJ...107 months or 9 fuggn' years of foreclosed homes. And people want to slow the process down? Good luck! Maybe it will take 15 years to sell off then. Meanwhile, our real estate and home building industry will continue to be depressed. Number of the Week: 107 Months to Clear Banksâ€™ Housing Backlog "107: How many months it would take to sell banksâ€™ current and shadow inventory of foreclosed homes. Banksâ€™ vast pile of foreclosed homes doesnâ€™t appear to be diminishing. Thatâ€™s a troubling sign for the future of the housing market. Back in April, this column tallied up all the foreclosed homes sitting in banksâ€™ inventory, as well as the â€śshadowâ€ť inventory of homes in the foreclosure process or on which owners had missed at least two mortgage payments. At the time, we reported that at the current rate of sales, it would take 103 months to unload it all. Over the past six months, that number has actually risen. Banks managed to pare down the shadow inventory, but largely by taking possession of foreclosed homes. As of September, they owned nearly 994,000 foreclosed homes, up 21% from a year earlier. The shadow inventory stood at 5.2 million homes, down 7% from a year earlier. Grand total: 107 months of inventory." Number of the Week: 107 Months to Clear Banksâ€™ Housing Backlog - Real Time Economics - WSJ Hopefully, Sean Bielat will help get this process working again!