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Link to full blog post article

Happiness and Prosperity in real estate for 2017

2017 is looking like it will be another strong year in local real estate. Although prices and interest rates are expected to rise, the arrival of "shadow inventory" could help keep prices in check. Most people would say, "what is shadow inventory?" The concept of shadow inventory was conceived during the mortgage crisis of 2008-2013 when the economy had bottomed out and the unemployment rate hit record highs.  Many homeowners could no longer afford their mortgages due to the loss of a job or an adjustable rate mortgage (aka a.r.m.) resets.  The inventory of homes that the banks took back through foreclosure was substantial, almost overwhelming and finally hit critical mass.  U.S. Governme…
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