Circle Of Life

Posted: September 6, 2008 in Economy

The other day my wife spoke with a market researcher who is currently doing a study here in the Inland Empire (considered to be ground zero for the subprime mortgage). According to him, most of the standing inventory has been scooped up by new home buyers. You wouldn’t know that because MSM likes to focus almost exclusively on foreclosed homes. We are now entering the phase where homebuyers will now begin to pay more attention to REO’s (Bank-owned properties). Once that has been almost depleted, we will right back at the place where market demand will legitimize new home construction. The market is simply recycling itself.

As soon as I can get my hands on the report, I’ll post it here.

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