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Hidden Homes: Are Secret Properties About to Flood the Market?
Manage episode 452686740 series 2911349
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Hidden Shadow Inventory of Homes
- Economists suggest there may be a "shadow inventory" of homes that could enter the market.
- This might initially seem like good news for housing availability, but the source of this inventory raises concerns.
What is Shadow Inventory?
- Properties expected to come to market but are not yet listed.
- Main source: potential evictions due to overdue rent payments.
Rising Eviction Likelihood
- A significant rise in tenants facing eviction for being three months behind on rent.
- Likelihood of evictions has increased from 16% to 23%, marking an alarming 50%+ rise.
Historical Comparison
- Eviction risks haven’t been this high since the pandemic or even the housing bubble.
Potential Impacts
- More homes entering the market could lead to temporary relief for buyers.
- However, evictions could worsen homelessness, income disparity, and potentially impact home prices.
Key Takeaway: While shadow inventory may temporarily ease housing shortages, the human cost of evictions and their broader economic implications cannot be overlooked.
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