The shadow inventory is now estimated to be around 7 million homes. But nobody can really say because, if home prices begin to spiral downwards again, the number cold balloon much higher. Home prices, and possibly our entire economy, will not hit bottom until we undo all of the real estate transactions that never should have happened.
So, after 5 years, how much progress have we made?
My best guess, to use a baseball analogy, is that we’re in the third inning. At this rate, it could be decades before this housing mess is behind us.The shadow inventory is now estimated to be around 7 million homes. But nobody can really say because, if home prices begin to spiral downwards again, the number cold balloon much higher. Home prices, and possibly our entire economy, will not hit bottom until we undo all of the real estate transactions that never should have happened.
So, after 5 years, how much progress have we made?
My best guess, to use a baseball analogy, is that we’re in the third inning. At this rate, it could be decades before this housing mess is behind us.