Inman News is reporting today that the "Shadow Inventory" is still growing in some markets. Portland, OR shows a shadow inventory of 34.5 months, which the article further reports is at the peak, but not yet retreating.
The article's final paragraph is quite telling: "To liquidate these properties successfully, we believe servicers may be forced to reduce their prices. And as these reduced-price homes hit the market, the supply will keep keep rising -- which could drive prices further down."
Read the full article by following this link:
http://www.inman.com/news/2010/06/16/shadow-inventory-still-growing-in-some-markets
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