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Low inventory showing the bottom? Nope, S&P shows 46 months of "Shadow"
2012 May 14, 2:05am 47,499 views 78 comments
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David9
@
2012 May 16, 4:18am
Here's another article from Realty Trac (May 1, 2012) about the fake housing recovery and low inventory:
freak80
@
2012 May 16, 5:02am
APOCALYPSEFUCK is Tony Manero says
If the banks' accounting was even half straight, all the big ones would be toast.
Let's get with rational accounting again and take a long, satisfying piss on the face of a dead bank.
Hey now, let's not get too crazy. We all know that America is about power, money, and propaganda. Truth is the enemy.
FortWayne
@
2012 May 16, 6:37am
APOCALYPSEFUCK is Tony Manero says
If the banks' accounting was even half straight, all the big ones would be toast.
Let's get with rational accounting again and take a long, satisfying piss on the face of a dead bank.
Hey now, let's not get too crazy. We all know that America is about power, money, and propaganda. Truth is the enemy.
Remember George?
"Bullshit is the glue that holds America together".
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http://www.dsnews.com/articles/shadow-inventory-update-46-months-to-clear-supply-of-distressed-homes-2012-05-14
As we all know, the banks are trying their hardest to hold back the flood, but between 2011 and 2012, the amount of shadow inventory only dropped by ONE month. There's still nearly 4 years of supply out there! I'm guessing the banks will start allowing 3 years worth of squatting to prevent having to realize their losses, I should have bought in 2004, I would have stopped paying and saved nearly $200,000 in cash by squatting.
To put the shadows into perspective, S&P says this latest number, which is based on the original balances of the loans, represents slightly less than one-third of the outstanding non-agency residential mortgage-backed securities (RMBS) market in the United States.
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