Shadow Housing Inventory

[IanMacQuaide]

HOUSTON -- Home prices in Houston have been rebounding, heading up for the fifth straight month. National averages have been going the opposite way, showing month after month of decline. But before you start making decisions about whether it’s a good time to buy or sell, wait until you see what 11 News found: a potential surplus supply of homes that some realtors said are "not for sale."

"There's a huge inventory of homes out there that the mortgage companies aren't doing anything with,” said Michael Weaster, a realtor with Century 21. “They're not even foreclosing on them. They're just letting them sit there.”


http://www.khou.com/news/Home-Prices-Will-hidden-foreclosures-reduce-prices.html

 

[peilthetraveler]

Now is a great time to buy. Doesnt matter if prices are going down or not. Houses now are being sold in many places for cheaper than it costs to build. Also, houses are going for so cheap in places like Vegas that its profitable to buy and rent it out (if you can find a renter which is the hard part) I would recommend to anyone to start buying property in Vegas and enjoy the cash flow.

If you are a flipper or rehabber though, its still a risky gamble to buy real estate, but a person that buys and holds till retirement can make a fortune in 30 years.