Tuesday, September 25, 2012

Shadow Inventory Is Definitely Decreasing

If you don't read the news, you won't know this. But, here it is ~ THE SHADOW INVENTORY IS DEFINITELY DECREASING! And, that means housing recovery.

There, should I stop writing? Hah, nope...wanted to share JPMorgan Chase's research numbers with you.

1.2 million homes are no longer considered in the shadow, as of the first half of this year. If that progress continues, we could be down to only 4 million. But, that is great news, down from 6m in 2010! 335,000 in Short-Sales, 420,000 in loan mods, and about 470,000 REO's sold in those numbers.

Expected by the end of the year numbers:

Sell 950k REO's, 670k Short-Sales, and 800k total loan mods.

Right now we have almost 11 million people underwater in their home loans. Prices are certainly going up in Santa Clarita Valley and San Fernando Valley. If prices continue to improve, Chase's estimate of a 10% increase, then we'd only have about 9 million people paying on their homes that they owe more than it's currently worth.

What say you???

No comments: