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foreclosures: The Next Wave: Part 2 - 04/20/10 12:54 PM
Yesterday I wrote about how there is this HUGE supply of homes that are not on the market, but are awaiting banks to put them on the market, the 'shadow inventory.'  I just read this article from Diana Olick at CNBC,article here, about how much there really is.  She used an example of the DC housing market.  There is a reported 5.1 month supply in DC. But, if you add in the estimated 'shadow inventory,' you get a 13.2 month supply.  That is what we should be worried about.
Great article from Diana.

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foreclosures: The Next Wave. - 04/19/10 02:42 PM
 
The end of the first time home buyer tax credit is right around the corner.  Lenders, realtors, and clients are scrambling to get into contracts, and get the process moving.  The tax credit has created a lot new customers, but is it enough to sustain after the credit goes away?  That is a hard one to say for sure.  What is known, is that there are a lot of homes that are sitting on the sidelines.  That will be the story of 2010.
The graph below shows how many homes are late on their mortgage, but have not started the … (4 comments)

 

Jake Planton

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