If you think you’ve heard the last about foreclosures, think again.
There are a ton of them in the pipeline. Approximately 740,000 homes are currently somewhere in the foreclosure process.
In addition, banks own another 676,000 homes they’ve retained and not yet listed for sale, according to RealtyTrac.
And here’s the scary part…
More than 22% of those 676,000 homes (about 152,000 of them) are either vacant or abandoned, and neither banks nor servicers have taken title.
So why is this so worrisome? Let me show you…
So far today U.S. stocks aren’t celebrating the 5-year anniversary of the bull market, which technically-speaking began on March 9, 2009.
Will they rally by the end of the day, in a formal salute to moving onward and upwards?
If not today, then how about tomorrow, or the next day, or the next day?
Chances are better than good that stocks will go a lot higher.
But without a 10% correction since 2011, stocks are increasingly vulnerable at this juncture. The truth is there’s an intense battle about to be waged between bulls and bears.
And if you don’t see this big picture, you could be in for a rude awakening. Here’s why.