8.5 million US homes currently for sale
+ 11 million US mortgages currently delinquent
+ 12 million US properties currently held by lenders and NOT on market
+ 15 million US homes under water
+ 20+ million more US strategic defaults and foreclosures coming
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ENORMOUS supply for MANY years to come
no more tax credit
+ more stringent lending requirements
+ dropping credit scores
+ high unemployment
+ lack of consumer confidence
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Historically low demand for years to come
Even NAR and their typically "pie in the sky" estimates are only projecting 5.3 million sales this year (we will actually end up closer to 4.8 million if you are keeping score)
what do YOU think will happen when supply is high and demand is low for the next 5-7+ years??? email Think@TRGHelp.com and ask for access to our upcoming call on "Where the US housing market is, how it got there, where it's going, why and how savvy property owners can maximize their opportunities.
Here are a few new links . . .
http://www.time.com/time/business/article/0,8599,2003578,00.html
Time house prices slashed across the country as sellers are forced to become more realistic – LOTS more to come!
http://www.cnbc.com/id/38204299
CNBC major drop in US credit scores will lead to less borrowing/less demand and even slower absorption
