Yawn, wake me up when we the combined attahced/detached listing inventory drops below 10,000. At this rate it should only take 3 more years. That’s if nothing bad happens between now and then. LOL
The foreclosures from actual ARM resets have yet to hit. Gross number of sellers being down belies the impact of the increase of compelled-to-sell-now sellers. The bust of the 1990s had 3 distinct rallies before it bottomed out. As I see it, we have been long overdue for a sucker’s rally.
I just did an analysis of the Escondido market. They currently have a year’s worth of SFRs and almost 16 months of condos sitting around; and there are a lot more foreclosures reported for those zips in Foreclosure.com than the total number of sales over the first 5 months of this year. And more coming online every month.
I swear, S2Buy must be holding a property or two; otherwise why would he/she do this every month?
