Relevant:
- Lords of the shadow inventory -- over 3 million homes locked away in shadow inventory near peak levels. Prices must fall to prevent massive drawn out drag to economy.
- Shadow Inventory Drops below 2 Million Homes
- Economist Forecasts 20 Percent Further Drop in Housing Prices
- US existing home sales unexpectedly fall in July
- U.S. home sales hit 10-year high, prices soar on low inventory
2010-05-30 — ml-implode.com
``New Observations estimates excess inventory for sale equals 1.4 million units with over 4-million homes on-the-block, a figure hovering just 11 percent below peak-crash inventory, while at the very same time the realtors’ chief economist forecast Monday that “the housing price correction appears essentially over.â€''
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