Remember when “shadow inventory” was going to eat the world?
In 2010-2013, everyone was talking about how real estate investors were going to dump their homes on the market and it was going to cause “another leg down” in home prices?
It never happened.
By the summer of 2011, it was clear (to a few of us, anyway) that the number of homes in the foreclosure pipeline was shrinking fast, that foreclosures would eventually fall dramatically and home prices would rebound.
I sure hope this Blackstone news doesn’t trigger another round “shadow inventory” hysteria.
Back to You
Hey, I wonder if we can start a better urban myth?
If you could create an urban real estate myth, what would it be?
Please leave your submissions in the comments.