Is the Shadow Coming Out of the Darkness?
Only a little over a month ago we posted the following.
In that post we cited some reliable sources as predicting that the shadow inventory was not the threat that some have predicted. Now we are starting to wonder.
Ocala & Marion County foreclosure inventory listed in the Multiple Listing System has increased by over 20% in the last 45 days. It is now the highest it has been in almost 18 months.
Is this the banks finally unloading the shadow inventory? Or is this the banks responding to the reduction of inventory and increasing prices that is occuring in most of the country. Do the banks think now is the time to unload?
Will the banks sabotage the fragile recovery in the real estate market?