Relevant:
- Shadow Inventory to Push 2011 Home Prices Lower than '09: Altos Research
- The monster lurking in the shadow inventory -- 12 million Americans underwater with nearly 6 million delinquent or in foreclosure
- The collapsing prices in Irvine condos
- The mid-tier correction in California housing -- Burbank California shadow inventory three times the size of non-distressed MLS inventory.
- Eclipsing a terrible milestone as home prices fall harder than 1928 through 1933
2012-03-20 — doctorhousingbubble.com
``The FHA default rate is now approaching 10 percent. Instead of stepping in we have another Fannie Mae and Freddie Mac on our hands. Why is that? Because home prices continue to fall. With shadow inventory set to begin its purge in 2012, lower priced distressed homes will push prices lower. Many that bought in 2009, 2010, and 2011 have seen their equity washed away especially if they bought with a FHA insured loan and went in with the typical low down payment.''
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