The strength of the real estate market should not be measured by price appreciation, or the number of new and existing home sales. It should be measured by the support of underlying fundamentals and whether they can help to withstand economic cycles without policy makers having to go hog wild just to avoid a total collapse.How healthy is the real estate market today?
via Ramsey Su
There are an estimated 65,000 bank-owned properties and more than 1,500 newly created condo units from the building boom available for purchase, but not currently on the market, in South Florida, according to Condo Vultur
via Business Journal.
[Not just South FL, but everywhere else too]
Tomorrow morning CoreLogic will release their Shadow Inventory report as of August 2010. For this report, CoreLogic estimates the number of 90+ day delinquencies, foreclosures and REOs not currently listed for sale. Obviously if a house is listed for sale, it is already included in the “visible supply” and cannot be counted as shadow inventory.
via Calculated Risk
Lenders are trying not to flood the market with foreclosures, agents said.There may be 120 foreclosure filings a week, but only 30 or 40 are offered, creating a shadow inventory,