Don't tell me anything about shadow inventory: Who new about shadow buyers?
By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
Don't tell me anything about shadow inventory: Who new about shadow buyers? For years, we've been hearing about "shadow inventory", or this mysterious stockpile of bank-owned properties that at some point would be released into the market like some biblical plague. I'm not buying it. (No pun intended) The new buzz phrase I'm officially coining is "shadow buyers". Who had any idea that such an unknown growing swell of buyers was looming in the darkness until now? And this pool of buyers is a combination of first-time buyers, buyers looking to upgrade, and investors. The amount of activity and home value gains being witnessed in some part of the countries is record-breaking. And this is not hypothetical, like the shadow inventory "theory". I see it myself from both my listings and als...
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