Shadow Inventory Could Take Four Years to Clear: Morgan Stanley

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Shadow Inventory Could Take Four Years to Clear: Morgan Stanley These purchases have combined to drive the typical 30-year fixed mortgage rate down to a new all-time low of less than 4%. New US home-buyers can. t take off, and where a recovery in demand is.

Shadow inventory declines to five-month supply: CoreLogic Because home sales also slowed, the shadow inventory represented eight months of housing supply, up from five months a year ago, CoreLogic said. Weak demand for housing is "significantly increasing.

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"Whether it’s the sidelined, shadow or current inventory, the issue is there’s more supply than demand," said Oliver Chang, a U.S. housing strategist with Morgan Stanley in San Francisco. "Once you.

Morgan Stanley put the total number of homes in the shadow inventory at 8m at the end of Q110, and at the current sales rate, that would take 47 months to move through. Morgan Stanley is not the only firm trying to measure the shadow inventory. Barclays Capital reported that it could peak at 4.7m in the summer of 2010.

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The inventory of homes in some stage of foreclosure declined at a slower annual rate in August than in July, according to the CoreLogic monthly assessment of U.S. foreclosures. home foreclosure decline Continues in March – CoreLogic. the number of foreclosures is still well above the 2000 to 2006 average of 21,000 foreclosures per month.

"Shadow inventory," millions of distresses homes that could suddenly be put up for sale, and depress home prices even further is an ominous cloud hanging over the struggling housing market. Standard & Poor estimates that there is between 4 and 5 million homes in shadow inventory that can potentially be added to the glut of unsold homes already.

The amount of REO property held by the banks is also known as the "shadow inventory" of foreclosures. According to Morgan Stanley , it would take 47 months for the market to clear the roughly 7.5m first-lien mortgages in danger or already in foreclosure.