HOLY BOMBSHELL- if people would turn off the tv, this country would be in real trouble. What would a ” run on housing” look like? Like a reverse run on the banks”¦instead of trying to take money out, money would stop going in”¦.we would stop fueling the monster that is the international financial system, complete with all the lies and destabilizing deceit…..
FROM MICHAEL OLENICK:
” Shadow inventory,” the number of homes that are either in foreclosure or are likely to end up in foreclosure, creates substantial but hidden pressure on housing prices and potential losses to banks and investors. This is a critical figure for policymakers and financial services industry executives, since if the number is manageable, that means waiting for the market to digest the overhang might not be such a terrible option. But if shadow inventory is large, housing prices have a good bit further to go before they hit bottom, which has dire consequences for communities, homeowners, and the broader economy.
Yet estimates of shadow inventory, and even the definition of what constitutes shadow inventory property, vary widely. For example, the Wall Street Journal published a Nov. 11, 2011 article, ” How Many Homes Are In Trouble?” where values varied from 1.6 million (CoreLogic), to ” about 3 million” (Barclays Capital), to 4 million (LPS Applied Analytic), to 4.3 million (Capital Economics), to LPS Applied Analytics, to between 8.2 million and 10.3 million (Laurie Goodman, Amherst Securities).