He has analyzed the growth of REO properties in metro areas in the wake of the mortgage crisis.

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In other words, REO properties, which typically auction off at highly discounted prices, drag the prices of all the other homes for sale in the area down.

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Clear Capital stresses that distressed activity is the main culprit, as sales of bank-owned ( REO) properties now constitute 40.8% of all for sale homes in the region.

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But his primary concern is that, in some areas, a turnover of real estate owned (REO) properties to private hands, without proper oversight, could simply lead to a stock of neglected rentals in already depressed metro markets.

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