“Atlanta’s downtrodden neighborhoods proved a gold mine for Omni National Bank and its founders, who amassed tens of millions of dollars’ worth of mansions, company stock and a private jet after launching an unusual bank that financed renovations of inner-city houses.

But the only thing growing at Omni these days is the list of casualties racked up since the bank’s failure 10 months ago…”

Bank leaves trail of flipping, fraud  | ajc.com

“People focusing on the Multiple Listing Service (MLS) data for an accurate picture of the current housing market are missing the bigger picture.

This is like looking at Mercury and thinking you have a full picture of our Solar System…”

Foreclosures, Auctions, and Banks Obscuring Financial Data. Southern California Shadow Housing Inventory Report – MLS Lists 64,000 Homes but Shadow Inventory over 160,000. » Dr. Housing Bubble Blog.

“Baby boomer buyers fueled a big run-up in U.S. home construction and sales in the 1970s and 1980s.

Now beleaguered homebuilders say theyre hoping aging boomers, who are just entering retirement age, will once again give them robust housing sales…”

via Homebuilders hope boomers beat path to their door like they once did | News for Dallas, Texas | Dallas Morning News | Dallas Business News .