A little over a year ago, I wrote a series of posts in which I argued that “shadow inventory” (foreclosed homes held off the market by the banks) was nearly non-existent. "Shadow Inventory" Conspiracy Theories Are Nonsense Shadow Inventory Gut Feelings, Rumors, & Anecdotes Undocumented Shadow Inventory Scarce in King County Despite all of the…
Tag: shadow_inventory
Undocumented Shadow Inventory Scarce in King County
Don’t worry: This will be my last post about the shadow inventory issue for quite some time. In last Friday’s post about shadow inventory, “Haybaler” shared a great link in which Calculated Risk reported LPS delinquency data for September. This data addresses the main complaint some of you have raised about my previous analysis of…
Shadow Inventory Gut Feelings, Rumors, & Anecdotes
A number of you took issue with my data-backed claim that foreclosures are proceeding in a normal, orderly fashion and shadow inventory is a non-issue in the Seattle area. Your main objection seems to be based on a belief that there are large numbers of homes with mortgages that the borrower has stopped paying months…
“Shadow Inventory” Conspiracy Theories Are Nonsense
For some reason, a couple weeks ago the Seattle Times website featured a syndicated article about RealtyTrac’s “Vampire REO” nonsense, which in addition to being a completely worthless bit of non-news, was already weeks old when it appeared on the front page of the Seattle Times website. In the comments to the article I did…
REO Roundup: The Long, Slow Path to Market Clearing
A handful of non-number-based stories about foreclosures have popped up lately that I thought might be interesting to highlight here for discussion. First up, Diana Olick with CNBC: Vacant Homes Will Drown Housing Recovery A real estate source I knew recently told me about a guy he knows in Atlanta who has been hired by…