“Do you think this trickling out of inventory is going to last or will it get easier to buy a house when all of the alt-A loans go into foreclosure?”
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Depends on the neighborhood and price range. Right now the inventory-to-closings ratios in most higher-end areas is extremely high. So something has to give, and it’s probably going to be price. So I believe it will get “easier” (if easier means more inventory and substantial price cuts) to buy a house in the higher-end areas over the next 2-3 yrs. The competition for these properties is not likely to be anywhere near as intense as for the low end.
