New Housing Crash Looms: Shadow Inventory 7M+ Homes


	New Housing Crash Looms: Shadow Inventory 7M+ Homes

crmestler

10-1-2009 11:53 PM

71 views

tags:

foreclosures, housing, delinquencies

crmestler says:

As the media continues to preach a "market bottom"; the foreclosure log jam is about to burst and moratorium judgment day is at hand.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/986a3eac-f7b7-42bb-8721-9983b1c14f2b/4BEB95C9-2F63-4B3F-A3B2-E8748EDAC23F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.dsnews.com/articles/new-housing-crash-looms-as-shadow-inventory-climbs-past-7-million-analysts-2009-09-25" href="http://www.dsnews.com/articles/new-housing-crash-looms-as-shadow-inventory-climbs-past-7-million-analysts-2009-09-25" style="font-size: 11px;">www.dsnews.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dsnews.com/articles/new-housing-crash-looms-as-shadow-inventory-climbs-past-7-million-analysts-2009-09-25"><P>The housing crash is about to come back with a vengeance, as 7 million new foreclosure properties are about to hit the market, analysts at Amherst Securities Group LP said this week.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dsnews.com/articles/new-housing-crash-looms-as-shadow-inventory-climbs-past-7-million-analysts-2009-09-25"><P>“There’s going to be a flood [of bank-owned homes] listed for sale at some point,” John Burns, a real-estate consultant based in Irvine, California, told the <EM>Wall Street Journal</EM> this week. He expects prices to decline another 6 percent this year. The analysts at Amherst predicted an 8 percent drop, while a Sept. 11 report by Barclays forecasted a further 13 percent drop, saying the worst of the crash is “decidedly underway,” with increased foreclosures sapping “the strength of the recovery in all but the most optimistic of scenarios.”</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/4BEB95C9-2F63-4B3F-A3B2-E8748EDAC23F/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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