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Hidden menace to housing recovery

Officially, there are 3.5 million homes for sale nationwide. But there are millions more lurking in the shadows — hidden neatly away on banks’ balance sheets, stalled in foreclosure court proceedings or simply occupied by nonpaying owners as lenders wait months or years before taking action.

The housing market’s ballooning shadow inventory — buoyed by a yearlong foreclosure slowdown — stands as the most menacing obstacle to the recovery of the residential real estate market.

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CORRECTION

The first name of attorney John Bannon was incorrect in a story about the Pownalborough Court House in Dresden on page A1 of Thursday’s edition. It was a reporter’s error.

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Hason Trio to perform at Portland’s State Theatre

For nearly 20 years now the three brothers — Isaac, Taylor and Zachary Hanson — have been making music together, but it was in 1997, when they burst on the pop music scene with “MMMBop” (for which Zac became the youngest Grammy-nominated songwriter in history). That Mercury Records’ debut — “Middle of Nowhere” — was […]

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CORRECTION

The vote in a June referendum to abolish Readfield’s Public Works Department was 424 in favor and 419 against. An article on page A1 of Friday’s edition misstated the vote count becaue of a reporter error.

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CORRECTION

Thursday’s story on page A1 about the potential closing of the East Vassalboro Post Office provided, because of a reporting error, an incorrect deadline for comments. The postal service will accept comments through Aug. 14. Also, Jan Murton should have been identified as owner of North Country Rivers.