“Shadow Inventory” Hurts South Florida Real Estate

MIAMI (CBSMiami) – Another setback for South Florida’s struggling housing market lies is just beneath the surface – thousands of homes that make up the so-called “shadow inventory.”

Not listed on the books yet as foreclosures, CBS4 news partner The Miami Herald reports there could be as many as 200,000 stuck in court proceedings, stalled in foreclosure court proceedings, hidden by banks’ balance sheets or still being lived in by non-paying owners. This number is startling considering there are only about 30,000 homes listed on the active market.

Real estate experts believe we could see another five years of slow real estate growth as these ‘shadow homes’ come onto the market.

Click Here to read more about this story.

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Miami

Sign-Up Now For Our 2016 Knockout Pool
Fired Up For The #FinsOn4

Listen Live