Reality Trac had commented that 70% of current mortgage defaults are currently not listed in MLS, they are kept off the books because it would impact the economy which would cause catastrophe in the stock markets and our dollar. Up to 9 million homes may enter foreclosure over the 2009-2011 period, versus one million in a typical year. At roughly U.S. $50,000 per foreclosure according to a 2006 study by the Chicago Federal Reserve Bank, 9 million foreclosures represents $450 billion in losses according to the New York Times. The fact is - many people are under the belief that we are coming close to the end of the housing crash, but many sources say it has only just begun. (Read More.....)