Not sure if it fits the piggington/ocrenter definition of shadow inventory (vacant/foreclosed homes owned by the bank and not being listed) but it does represent an interesting dynamic for my brothers and sisters in sd, la and oc who have not been able to enjoy the meltdown and find 50% off peak homes and who can’t find 30% off without a fight.
So the shift according to diana’s piece is jumbo prime not making their payments are going to get tossed out and resold. This already happened in subprime, and to some extent alt a, but it’s now jumbo prime’s turn. The pain train now has scheduled it’s final stops.
