The Shadow Inventory Myth is Dead

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 […]

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 […]

Redfin Maps All the Bank Owned (REO) Shadow Inventory

Full disclosure: The Tim is employed by Redfin. After Google’s recent announcement that they were pulling their real estate map features, I was somewhat disappointed that we had lost a mapped view of unlisted foreclosures. Fortunately, Redfin just today released a sweet new feature that I’ve been helping plan: Full map and details on all […]