Shadow inventory improves...

Interesting article linked below from CNNMoney on the foreclosure mess. As I've blogged about previously (see condo entry from 7/13/2011), foreclosures have had a very real and measurable impact on the market. However, I find it unlikely that there is a massive shadow inventory that will roll over us like a Tsunami. This would imply a level of communication and coordination (not to mention agreement) among the various institutions involved that simply does not exist. Further, if so many were on hold, at least some participants would be releasing inventory in classic "prisoner's dilemma" fashion.

Here's the link: Shadow inventory improves but still threatens housing recovery