SDR – I don’t want to contest anything you say here b/c I respect your views greatly and appreciate all the feedback you provide and I think we are perhaps quibbling about semantics here, but I would like to know what would be the point in indicating that MLS inventory is down.
Many of us here know there is much more in the pipe. But, say, if MSM announces this, perhaps it could trick people into thinking we’ve hit bottom. I just find it deceptive to say MLS is down as a suggestion that there aren’t many places for sale.
It seems almost meaningless to say MLS is down. Does that mean that the banks are just not going to put any of their places in the MLS for sale? Are they not going to sell any of them? Are they boycotting MLS? I mean, we all agree pretty much the distressed places go to foreclosure, loan is ridiculous, goes back to bank, bank sits on it and eventually lists.
What’s the significance and objective in stating MLS is down? What outcome/reaction/response is expected by that statement? What valuable information does it provide us? What do/can we derive from that which would be useful to us in ascertaining how the market is doing? Sales are down. But we can’t really say inventory is down. I guess if we get technical and say MLS is down, but again, we know that is a half-truth.
I’m sorry if I seem dense about this. Trying to be open-minded and understand what benefit that information would do me to know the MLS is down. It would be different if there were no defaults or foreclosures. All that tells me is it’s down b/c the banks are delaying listing properties. Maybe even intentional. Maybe they want people to think there is low/limited supply. Hurry up and buy now while you can.
