Relevant:
- 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.
- U.S. ‘Shadow Inventory' Shrinks as Foreclosed Homes Sell, CoreLogic Says
- Shadow inventory improves but still threatens housing recovery
- More homes are poised to hit the market
- Housing Market Tracker - Foreclosure Data Review
2010-07-15 — housingwire.com
"James Saccacio, CEO of RealtyTrac, said at the current pace, more than 3m properties will receive a foreclosure filing by the end of the year, and lenders will repossess more than 1m of them. According to a report from the Toronto-based Capital Economics, the weight of the shadow inventory may contribute to a double dip in the housing market. The report found that for every home currently on the market, two homes are waiting to be sold."
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