joof

Housing: Objects in the Mirror May Appear Closer than They Are

National single family starts are actually well below 400k

In S California there is less than 3 months listed supply at lower price levels in better markets. Multiple offers and aggressive bid ups over list have become the norm for better properties. Sales rate have been sufficient to counter balance new foreclosure inventory. It costs less to own than to rent in many cases. Since those are the facts, why hasn't the so called shadow inventory flooded the market ?

The upper end end is a very different story