[quote=4plexowner]1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?
many of them will try to downsize by selling their houses
ie, more shadow inventory
2. what about the 14 million vacant homes in America? That’s at least 10 months of supply and, according to Rich and others, there is downward price pressure anytime there is more than 8 months of supply
ie, lots of ‘have to sell’ inventory
3. what about the fact that previous real estate downturns in SoCal have been 6 to 7 years which puts a bottom in 2012 to 2014 at the earliest?
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seems like people either aren’t aware of these little details or they are choosing to ignore/deny them
oh well, knife-catchers are part of the process …[/quote]
As for voluntary sales, I would not expect them to be like the foreclosure inventory at all, it’s just not the same.
They will only sell if it make sense to them to do so, or they will give the home to their kids or stay put.
To the 14 million vacant homes , Yes some of these will come on the market, I would say a very small percentage are in socal coastal that are not second or vacation homes that will stay that way.
