Relevant:
- California has nearly 9 years of housing supply counting shadow inventory
- 9 Years of Housing Inventory and 7 Million Homes 30+ Days Late or in Foreclosure
- Lords of the shadow inventory -- over 3 million homes locked away in shadow inventory near peak levels. Prices must fall to prevent massive drawn out drag to economy.
- Excess Inventory May Impede Housing Recovery: Fannie Mae
- Shadow Inventory Increases
2010-01-24 — wsj.com
The inventory comments in this article are moronic. The WSJ also does not note how building has not been happening in the same areas and fashion in which it did during the bubble: it is trending urban and multi-unit, not exurban free-standing homes. So this "recovery" is really more of a shift, which is worth bearing in mind when considering how much the exurban "inventory" will be worth on banks' balance sheets.
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