Foreclosed housing drag
January 3, 2011 § Leave a comment
by CalculatedRisk on 1/03/2011 10:15:00 PM
From CNBC: Home Prices Will Decline for Years: Zuckerman (ht Scott)
Mort Zuckerman … blamed the continuing price decline on the so-called shadow inventory of foreclosed homes that’s yet to come on the market.
It would have been much cheaper all around to let people stay in those houses. Then no excess inventory. Can this be modeled?