FWIW, I really do enjoy your posts, and don’t find them offensive. It appears to me that you are seeing and hearing things that indicate there is a lot of shadow inventory out there, and many of us agree with you. The problem is that we can give anecdotes about people who are not paying for months or years without receiving a NOD, but we cannot bring numbers to the table. IMHO, this is 100% intentional, as the PTB do not want us to know the numbers. Right now, ignorance is bliss, and opaque markets make this ignorance possible.
