Forelosures on the market, still keeping house prices down

The past few years have seen a large amount of foreclosures in the housing market.  These not only cause problems with home vacancy that allows for increased crime in neighborhoods, driving prices down, but also a large amount of homes that need to be sold at a discount also drives house prices down.  Therefore it is not uncommon to see homeowners in an area with high amounts of foreclosures complain.  This epedemic is far from over and will continue despite efforts from banks to tighten lending practices.  Here is an article that explains the problems with foreclosures a little more.  Foreclosures could still wreak havoc on recovering markets.