The banks do not have a choice.

[svelte]

Since this was posted, I’ve been looking for facts to prove or disprove the ‘holding back’ theory. I haven’t found anything, but will keep looking. Maybe it’s an urban legend. Shrug.

[Fearful]

I wonder whether the banks’ SEC filings have that sort of data in them.

The original Bloomberg article citing ~17M houses vacant – well, I doubt there are all that many non bank owned vacant houses. Completed builder inventory is another possible contributing category.

Anecdotal reports that Indymac cannot hold inventory are meaningless. Judging by offered CD rates, Indymac is more desperate for cash than most. We should be grateful, though; banks like Indymac will help the market move to reality that much faster.

[Fearful]

I wonder whether the banks’ SEC filings have that sort of data in them.

The original Bloomberg article citing ~17M houses vacant – well, I doubt there are all that many non bank owned vacant houses. Completed builder inventory is another possible contributing category.

Anecdotal reports that Indymac cannot hold inventory are meaningless. Judging by offered CD rates, Indymac is more desperate for cash than most. We should be grateful, though; banks like Indymac will help the market move to reality that much faster.

[Fearful]

I wonder whether the banks’ SEC filings have that sort of data in them.

The original Bloomberg article citing ~17M houses vacant – well, I doubt there are all that many non bank owned vacant houses. Completed builder inventory is another possible contributing category.

Anecdotal reports that Indymac cannot hold inventory are meaningless. Judging by offered CD rates, Indymac is more desperate for cash than most. We should be grateful, though; banks like Indymac will help the market move to reality that much faster.

[Fearful]

I wonder whether the banks’ SEC filings have that sort of data in them.

The original Bloomberg article citing ~17M houses vacant – well, I doubt there are all that many non bank owned vacant houses. Completed builder inventory is another possible contributing category.

Anecdotal reports that Indymac cannot hold inventory are meaningless. Judging by offered CD rates, Indymac is more desperate for cash than most. We should be grateful, though; banks like Indymac will help the market move to reality that much faster.

[Fearful]

I wonder whether the banks’ SEC filings have that sort of data in them.

The original Bloomberg article citing ~17M houses vacant – well, I doubt there are all that many non bank owned vacant houses. Completed builder inventory is another possible contributing category.

Anecdotal reports that Indymac cannot hold inventory are meaningless. Judging by offered CD rates, Indymac is more desperate for cash than most. We should be grateful, though; banks like Indymac will help the market move to reality that much faster.

[Bugs]

I’m on a first-name basis with the Chief Appraiser at Indymac. I’ll ask him and get back to you on it.

[Bugs]

I’m on a first-name basis with the Chief Appraiser at Indymac. I’ll ask him and get back to you on it.

[Bugs]

I’m on a first-name basis with the Chief Appraiser at Indymac. I’ll ask him and get back to you on it.

[Bugs]

I’m on a first-name basis with the Chief Appraiser at Indymac. I’ll ask him and get back to you on it.

[Bugs]

I’m on a first-name basis with the Chief Appraiser at Indymac. I’ll ask him and get back to you on it.

[nostradamus]

While there is no clear-cut answer to the question of bank-owned RE held off the market, there are plenty of reasons to believe that we have only seen a fraction of available inventory for sale. Who is holding this inventory and why?

Builders holding inventory (previously posted here) WSJ Article

The Bloomberg article (posted earlier on this thread) states that banks are holding onto inventory. You can contact that reporter at bwillis@bloomberg.net maybe he'll explain how he reached that conclusion. His stated source is:

US Census Bureau http://www.census.gov/hhes/www/housing/hvs/qtr307/q307tab4.html As you can see from that table (which gives the break-down HereWeGo wanted), 17.89 million homes sit vacant. Of those, 2 million are for sale. Whether the bank owns them or not, I find it unsettling.

Here is all the US Census info on housing for Q3 '07. http://www.census.gov/hhes/www/housing/hvs/qtr307/q307ind.html

One interesting table is this, which shows that the vacancy rate is the highest since 1960. Between 2004 and 2007 the vacancy rate jumped 50%. Gee, what else happened between 2004 and 2007? SOMEBODY is holding those empty homes. Builders? Banks? Individuals? Who knows. http://www.census.gov/hhes/www/housing/hvs/qtr307/q307tab1.html

[nostradamus]

While there is no clear-cut answer to the question of bank-owned RE held off the market, there are plenty of reasons to believe that we have only seen a fraction of available inventory for sale. Who is holding this inventory and why?

Builders holding inventory (previously posted here) WSJ Article

The Bloomberg article (posted earlier on this thread) states that banks are holding onto inventory. You can contact that reporter at bwillis@bloomberg.net maybe he'll explain how he reached that conclusion. His stated source is:

US Census Bureau http://www.census.gov/hhes/www/housing/hvs/qtr307/q307tab4.html As you can see from that table (which gives the break-down HereWeGo wanted), 17.89 million homes sit vacant. Of those, 2 million are for sale. Whether the bank owns them or not, I find it unsettling.

Here is all the US Census info on housing for Q3 '07. http://www.census.gov/hhes/www/housing/hvs/qtr307/q307ind.html

One interesting table is this, which shows that the vacancy rate is the highest since 1960. Between 2004 and 2007 the vacancy rate jumped 50%. Gee, what else happened between 2004 and 2007? SOMEBODY is holding those empty homes. Builders? Banks? Individuals? Who knows. http://www.census.gov/hhes/www/housing/hvs/qtr307/q307tab1.html

[nostradamus]

While there is no clear-cut answer to the question of bank-owned RE held off the market, there are plenty of reasons to believe that we have only seen a fraction of available inventory for sale. Who is holding this inventory and why?

Builders holding inventory (previously posted here) WSJ Article

The Bloomberg article (posted earlier on this thread) states that banks are holding onto inventory. You can contact that reporter at bwillis@bloomberg.net maybe he'll explain how he reached that conclusion. His stated source is:

US Census Bureau http://www.census.gov/hhes/www/housing/hvs/qtr307/q307tab4.html As you can see from that table (which gives the break-down HereWeGo wanted), 17.89 million homes sit vacant. Of those, 2 million are for sale. Whether the bank owns them or not, I find it unsettling.

Here is all the US Census info on housing for Q3 '07. http://www.census.gov/hhes/www/housing/hvs/qtr307/q307ind.html

One interesting table is this, which shows that the vacancy rate is the highest since 1960. Between 2004 and 2007 the vacancy rate jumped 50%. Gee, what else happened between 2004 and 2007? SOMEBODY is holding those empty homes. Builders? Banks? Individuals? Who knows. http://www.census.gov/hhes/www/housing/hvs/qtr307/q307tab1.html

[nostradamus]

While there is no clear-cut answer to the question of bank-owned RE held off the market, there are plenty of reasons to believe that we have only seen a fraction of available inventory for sale. Who is holding this inventory and why?

Builders holding inventory (previously posted here) WSJ Article

The Bloomberg article (posted earlier on this thread) states that banks are holding onto inventory. You can contact that reporter at bwillis@bloomberg.net maybe he'll explain how he reached that conclusion. His stated source is:

US Census Bureau http://www.census.gov/hhes/www/housing/hvs/qtr307/q307tab4.html As you can see from that table (which gives the break-down HereWeGo wanted), 17.89 million homes sit vacant. Of those, 2 million are for sale. Whether the bank owns them or not, I find it unsettling.

Here is all the US Census info on housing for Q3 '07. http://www.census.gov/hhes/www/housing/hvs/qtr307/q307ind.html

One interesting table is this, which shows that the vacancy rate is the highest since 1960. Between 2004 and 2007 the vacancy rate jumped 50%. Gee, what else happened between 2004 and 2007? SOMEBODY is holding those empty homes. Builders? Banks? Individuals? Who knows. http://www.census.gov/hhes/www/housing/hvs/qtr307/q307tab1.html

[Author]

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