Welcome to the Vitus Capital Blog!
Notes to myself, possibly of interest to others.
-- Bill Northlich

Monday, September 20, 2010

How long will the recovery take? Some very high level housing mathematics...

Total housing inventory at the end of July increased 2.5 percent to 3.98 million existing homes available for sale, which represents a 12.5-month supply at the current sales pace
---NAR, 8/24/10

Shadow Inventory: "...a total of roughly 6.97 million residences that are almost certainly going to be thrown onto the resale market as distressed properties at some point in the not-too-distant future."
---Minyanville today

Lessee... Napkin arithmetic says we are soonish to have greater than 30 months of inventory out there.
(My bolds)

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