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Goran_K
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2012 Nov 19, 5:22am
The only buyers left are first-timer buyers, or investors, and they are both competing for the last remaining stock of sub-$500,000 homes on the market in SoCal. All the high end stuff just sits and sits.
David9
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2012 Nov 19, 6:20am
A small treasure trove of more 'Ghost Inventory' articles.
http://mhanson.com/archives/991
"We didn't invite Bank of America, Wells Fargo and Chase because we keep hearing the same rhetoric that they're sitting on zero ghost inventory," Shelton said Thursday. "Banks realize they need to manage the release back into the market for stability in the short term."
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http://www.ritholtz.com/blog/2012/07/us-housing-inventory-requiring-deleveraging-30-million-units/
'Ghost Inventory' I like the new term.
Don't recall this 2012 article being posted.
“The present RRE situation can be best described as massive Fed stimulus + government induced foreclosure abatements = some stabilization. Anything beyond that statement falls between wishful thinking and a guess.” are dead on . . .
#housing