The National Association of Realtors recently stated that there is about 4 years of shadow inventory accumulated on the lenders’ books – that means that even if the lenders steadily released their inventory on the market, there is a back log of 4 years. This field is for validation purposes and should be left unchanged. More mortgages that fall behind by 30 and 60 days are progressing through to default. Bloomberg on how a vast "shadow inventory" of nearly 6,000 recently completed units puts added stress on Manhattan's slowing real estate market, especially in the higher-end segment. –New York Observer, “Should we have seen this coming?...I spoke to appraiser Jonathan Miller 3 years ago.” Lenders have generally become more selective about their borrowers, providing The build-up of shadow inventory, according to Amherst, is the result of three factors: High "transition" rates. Most condo buyers will want to see all the options available to them. LOS ANGELES. –New York Observer, “A combination of Godzilla, King Kong, and Hurricane Katrina all wrapped up in one as he wreaked havoc on the housing market.” –Reuters, “Jonathan Miller, an appraiser dubbed 'the Wikipedia of Manhattan real estate. I n March, New York City began moving homeless shelter residents believed to have Covid-19 to “isolation units” within existing facilities. The REBNY Universal New Development Brokerage Agreement was updated in 2020. The NYC new development market suffered three disruptions between 2017 and 2020 that especially affected Manhattan: International buyers looked elsewhere following the 2016 US election, a new mansion tax went into effect in July 2019, imposing progressively higher tax rates as … –Reuters, “Jonathan Miller of Miller Samuel is a NYC real estate "cultural icon. The shadow inventory is considered to be a marker for how long it will take for a depressed housing market to return to normal. –Deirdre Bolton, Anchor, Fox Business, “Jonathan Miller is a master of his craft...we are lucky to have him as an advocate for appraisers.” Shadow inventory refers to condos that have been constructed and are legally available for sale by the building’s sponsor but that have not been listed publicly for sale. –New York Observer, “Jonathan Miller is well-known for taking the pulse of Manhattan real estate.” –Jed Kolko, Chief Economist, Trulia. download report [my link – S&P report link being fixed at time of this post]. Purified Pokemon can be traded, though. now reading: Shadow Inventory Could Force a Housing-Market Collapse. Your Goldwing Specialists Manhattan supply in desirable areas is limited and properties are moving. Probably a dumb comment, but does the difference in shadow inventory make a difference? As a premier Honda dealership serving NYC and Brooklyn, you can count on our friendly and knowledgeable sales associates to help you find the Honda car, truck, or SUV that is the perfect match with your driving needs. –Katherine Clarke, New York Daily News, “JM makes real estate stats talk in language that normal people understand.” Shadow inventory refers to uninhabited or soon-to-be-uninhabited real estate that has yet to be put on the market. Photo: The Pod Hotels. –Bankrate, “Miller’s more than 20 years of real estate experience comes out in this no-nonsense blog.” Related: Condo-boom hangover: More than a quarter of NYC's new units remain unsold –Curbed New York, “Jonathan Miller, the go-to expert on all residential real estate figures.” 408 likes. Looking for the Shadow Inventory? –Real Estate Board of New York, “Jonathan Miller: One of the top 25 most influential U.S. real estate bloggers.” As a prospective buyer, these reports need to distinguish between Manhattan and NYC Metro Area (LI, New Jersey, etc.). He is an Appraiser “A” Member of the Real Estate Board of New York and a member of Relocation Appraisers and Consultants, Inc. About 3.8 million U.S. homes are “vacant and held off the market, part of the large, so-called shadow inventory,” Assistant Treasury Secretary Mary Miller said in a June 9 address in Washington. –Inman News. '” 'It's going to be an upward slog,' Samuel said. –Real Estate Weekly, “Market Analyst Jonathan Miller: Thank the Flying Spaghetti Monster he's on our side.” Declines In Some Areas, Stabilization Standard & Poors defines it this way: “We include in the shadow inventory all outstanding properties for which borrowers are 90… The report suggests Miami is improving, but relative to what? 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