[peterb]

Having lived through the last two real estate cycles in CA, I can say that this down trend is happening way faster and with far more severity!! Lenders are probably swamped with homes to process and not a lot of desire to get them on the market too quickly. Although an empty house probably represents a non-performing loan, it’s not recognized as a loss until it’s actually sold. Credit is contracting and unemployment is rising. I would not be in a hurry to buy right now. Those homes will eventually get to market and be cheaper than they would be now.

[peterb]

Having lived through the last two real estate cycles in CA, I can say that this down trend is happening way faster and with far more severity!! Lenders are probably swamped with homes to process and not a lot of desire to get them on the market too quickly. Although an empty house probably represents a non-performing loan, it’s not recognized as a loss until it’s actually sold. Credit is contracting and unemployment is rising. I would not be in a hurry to buy right now. Those homes will eventually get to market and be cheaper than they would be now.

[peterb]

Having lived through the last two real estate cycles in CA, I can say that this down trend is happening way faster and with far more severity!! Lenders are probably swamped with homes to process and not a lot of desire to get them on the market too quickly. Although an empty house probably represents a non-performing loan, it’s not recognized as a loss until it’s actually sold. Credit is contracting and unemployment is rising. I would not be in a hurry to buy right now. Those homes will eventually get to market and be cheaper than they would be now.

[peterb]

Having lived through the last two real estate cycles in CA, I can say that this down trend is happening way faster and with far more severity!! Lenders are probably swamped with homes to process and not a lot of desire to get them on the market too quickly. Although an empty house probably represents a non-performing loan, it’s not recognized as a loss until it’s actually sold. Credit is contracting and unemployment is rising. I would not be in a hurry to buy right now. Those homes will eventually get to market and be cheaper than they would be now.

[peterb]

Having lived through the last two real estate cycles in CA, I can say that this down trend is happening way faster and with far more severity!! Lenders are probably swamped with homes to process and not a lot of desire to get them on the market too quickly. Although an empty house probably represents a non-performing loan, it’s not recognized as a loss until it’s actually sold. Credit is contracting and unemployment is rising. I would not be in a hurry to buy right now. Those homes will eventually get to market and be cheaper than they would be now.

[peterb]

As negative as I can be, I have to agree with esmith on this. The USA has a huge educational system and many natural resources available yet to tap. The one thing we’ve abdicated heavily over the last two decades is manufacturing, but we still have plenty of it here and can create more without too much difficulty. Yes, we’ll have to rethink our consumerism lifestyle and probably scale-down a lot from what we’re used to spending, but from a global perspective, we’re in pretty good shape. We can easily feed ourselves and create more energy from non-petroleum sources.

Although 3rd world countries are rising rapidly, they face huge challenges due to their lack of infrastructure and massive populations. And dont forget that having the USA as an open market where they could sell their production has been a key factor in their rapid rise.

[peterb]

As negative as I can be, I have to agree with esmith on this. The USA has a huge educational system and many natural resources available yet to tap. The one thing we’ve abdicated heavily over the last two decades is manufacturing, but we still have plenty of it here and can create more without too much difficulty. Yes, we’ll have to rethink our consumerism lifestyle and probably scale-down a lot from what we’re used to spending, but from a global perspective, we’re in pretty good shape. We can easily feed ourselves and create more energy from non-petroleum sources.

Although 3rd world countries are rising rapidly, they face huge challenges due to their lack of infrastructure and massive populations. And dont forget that having the USA as an open market where they could sell their production has been a key factor in their rapid rise.

[peterb]

As negative as I can be, I have to agree with esmith on this. The USA has a huge educational system and many natural resources available yet to tap. The one thing we’ve abdicated heavily over the last two decades is manufacturing, but we still have plenty of it here and can create more without too much difficulty. Yes, we’ll have to rethink our consumerism lifestyle and probably scale-down a lot from what we’re used to spending, but from a global perspective, we’re in pretty good shape. We can easily feed ourselves and create more energy from non-petroleum sources.

Although 3rd world countries are rising rapidly, they face huge challenges due to their lack of infrastructure and massive populations. And dont forget that having the USA as an open market where they could sell their production has been a key factor in their rapid rise.

[peterb]

As negative as I can be, I have to agree with esmith on this. The USA has a huge educational system and many natural resources available yet to tap. The one thing we’ve abdicated heavily over the last two decades is manufacturing, but we still have plenty of it here and can create more without too much difficulty. Yes, we’ll have to rethink our consumerism lifestyle and probably scale-down a lot from what we’re used to spending, but from a global perspective, we’re in pretty good shape. We can easily feed ourselves and create more energy from non-petroleum sources.

Although 3rd world countries are rising rapidly, they face huge challenges due to their lack of infrastructure and massive populations. And dont forget that having the USA as an open market where they could sell their production has been a key factor in their rapid rise.

[peterb]

As negative as I can be, I have to agree with esmith on this. The USA has a huge educational system and many natural resources available yet to tap. The one thing we’ve abdicated heavily over the last two decades is manufacturing, but we still have plenty of it here and can create more without too much difficulty. Yes, we’ll have to rethink our consumerism lifestyle and probably scale-down a lot from what we’re used to spending, but from a global perspective, we’re in pretty good shape. We can easily feed ourselves and create more energy from non-petroleum sources.

Although 3rd world countries are rising rapidly, they face huge challenges due to their lack of infrastructure and massive populations. And dont forget that having the USA as an open market where they could sell their production has been a key factor in their rapid rise.

[peterb]

Is it possible to track the average time it’s taking for a house to go from NOD to REO? If lenders dont have to recognize a loss until they actually sell a house, it stands to reason that they will try to limit the number of listing that they want on the market at any given time.
My guess is that the average time from NOD to REO and then to actually listing the house is over a year now. Mr. Mortgage claims that over 70% of all NOD’s will get to be REO’s. Taking 70% of NOD’s maybe a more accurate way to measure phantom inventory than what the lenders are actually listing at any given time.

[peterb]

Is it possible to track the average time it’s taking for a house to go from NOD to REO? If lenders dont have to recognize a loss until they actually sell a house, it stands to reason that they will try to limit the number of listing that they want on the market at any given time.
My guess is that the average time from NOD to REO and then to actually listing the house is over a year now. Mr. Mortgage claims that over 70% of all NOD’s will get to be REO’s. Taking 70% of NOD’s maybe a more accurate way to measure phantom inventory than what the lenders are actually listing at any given time.

[peterb]

Is it possible to track the average time it’s taking for a house to go from NOD to REO? If lenders dont have to recognize a loss until they actually sell a house, it stands to reason that they will try to limit the number of listing that they want on the market at any given time.
My guess is that the average time from NOD to REO and then to actually listing the house is over a year now. Mr. Mortgage claims that over 70% of all NOD’s will get to be REO’s. Taking 70% of NOD’s maybe a more accurate way to measure phantom inventory than what the lenders are actually listing at any given time.

[peterb]

Is it possible to track the average time it’s taking for a house to go from NOD to REO? If lenders dont have to recognize a loss until they actually sell a house, it stands to reason that they will try to limit the number of listing that they want on the market at any given time.
My guess is that the average time from NOD to REO and then to actually listing the house is over a year now. Mr. Mortgage claims that over 70% of all NOD’s will get to be REO’s. Taking 70% of NOD’s maybe a more accurate way to measure phantom inventory than what the lenders are actually listing at any given time.

[peterb]

Is it possible to track the average time it’s taking for a house to go from NOD to REO? If lenders dont have to recognize a loss until they actually sell a house, it stands to reason that they will try to limit the number of listing that they want on the market at any given time.
My guess is that the average time from NOD to REO and then to actually listing the house is over a year now. Mr. Mortgage claims that over 70% of all NOD’s will get to be REO’s. Taking 70% of NOD’s maybe a more accurate way to measure phantom inventory than what the lenders are actually listing at any given time.

[Author]

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