A BETTER BUBBLE IN CALIFORNIA

摘要

The recent freezeon home foreclosures brought cheers from some quarters-espe-cially owners of the more than 1 million homes nationally due to be repossessed. But the delay may only prolong the pain, say housing analysts. Local markets can't rebound until they hit bottom, the logic goes, and they can't do so until states clear backlogs of distressed properties. This has produced a striking "two Americas" scenario, in which states with fast-track foreclosures are, all else being equal, bouncing back long before their slower counterparts.