Beatings will continue until home prices go up

OK.
I"m reading the Double dip in national home prices but perhaps thinking something the rest of you aren't.
The banks still own a ton of real estate. They can't liquidate due to the current foreclosure-gate crisis, so they are effectively a REIT managing underwater mortgages.
Bank stocks were down to flat today, We still have a ZIRP courtesy the Fed. If I owned a bank stock on the assumption of a recovery I would sell. And if anyone thinks the Fed will raise rates for savers anytime soon(even though they should) you have another thought coming.
Just my two cents. Don't think about individual home owners, think about the banks inventory of unsold homes which drives Fed behavior....

"If we do not see a meaningful recovery in home prices by the end of the year, we may need to contemplate impairment charges on first liens owned by banks and wholesale write-downs of second lien exposures. This implies solvency issues for BAC [BAC 11.75 0.06 (+0.51%) ], WFC [WFC 28.37 0.23 (+0.82%) ], JPM [JPM 43.24 0.45 (+1.05%) ] and C [C 41.15 0.18 (+0.44%) ], and big losses for the U.S. government and private investors," says Chris Whalen of Institutional Risk Analytics.

http://www.cnbc.com/id/43224167