This is exactly what I have been seeing in my farm areas. Lots of empty homes, however if you were not actively seeking out foreclosures you probably would’nt even know they were part of the shadow inventory. Banks send people by the homes once and while to mow lawns, etc. The porch lights are left on, neighbors park cars in the driveway, etc. Some are left unattended but many are looked after. Neighbors don’t want vagrants or vandals or teen partying going on next door so they work to keep a lived in look.
The truth is out there. You can search it out or you can join the bidding wars.
Great quote from the article above:
“This is the part of The Great Housing Bubble that still makes me angry. The powers-that-be know how big this problem is, and yet our policies and our public relations are all geared toward getting knife catchers to jump into the equity meat grinder. They know they are encouraging others to take on the losses the lenders cannot absorb, and they do not care how that impacts you.”
