JP Morgan Expects Shadow Inventory Declines In 2013
JP Morgan is expecting total shadow inventory to decline by 380,000 units in 2013 as the housing bubble continues to very slowly deflate. Source: Sober Look
Tag Archives: Shadow Inventory
Bay Area Foreclosures Down Half
The number of homes being foreclosed on in the Bay Area is down about fifty percent from a year ago. While this does’t explain the entire collapse in inventory, it is certainly a big part of it. From the Contra Costa Times: The steep drop — mirrored in California’s foreclosure activity — came as five [...]
Notices of Default Continue to Decline in California
Here’s all you need to know about foreclosure activity from Foreclosure Radar: August 2012 California Notice of Defaults were down 23.6 percent from the prior month, and down 49.1 percent compared to last year. … “We continue to see reports that there will be a wave of foreclosure sales after the election or at the [...]
Over Half Of All California Delinquent Mortgages Have Not Received A Foreclosure Notice After 15 Months
Here’s one reason that our shadow inventory is so hard to pin down: 59% of delinquent California mortgages still have not received a Notice of Default after 15 months. From Mish: Here are some interesting stats courtesy of Jon Maddux, CEO of You Walk Away. Says Maddux In Florida, 45% of our clients are in pre-foreclosure [...]
No, Banks Aren’t Holding The Shadow Inventory. They Never Were.
How we discuss shadow inventory largely depends on how we define it. And, it’s that definition that determines how big of a problem shadow inventory actually is. Some would strictly define shadow inventory as homes that have actually been foreclosed upon but not resold yet by the banks. The most conspiratorial of us believed that [...]
Mid-Year Market Check: How Good Was My Advice?
Back in January, I published my Sound Real Estate Advice for 2012. Let’s re-examine what I wrote then, compare it with what actually happened, and offer come conclusions about the rest of the year. Home Prices As far as market and home price predictions, I wrote: Overall, I expect 2012 will be very similar to [...]
Foreclosure Tsunami Delayed Indefinitely
The giant wave of backlogged foreclosures that is supposed to crush the housing market still isn’t coming. And while logic may dictate that the tsunami is inevitable, it’s time to recognize that there is nothing logical about our current real estate market. The free-market lost. The puppet-masters have won. Our shadow inventory is going to [...]