I haven’t focused on new foreclosure activity for a while because
the topic has become somewhat irrelevant, analytically speaking.
question is not whether a large “shadow inventory” of foreclosed homes
exists — it does — but whether and over what timeframe that inventory will
actually become relevant by entering the market. That being
the case, the question of how fast the shadow inventory might be
growing isn’t terribly high on my list of compelling topics.
It is nonetheless at least mildly interesting to note that new
foreclosures, as measured by mortgage default notices, have slowed