Credit for article goes to: Real Deal News

NYC leads country in shadow inventory
June 15, 2010 03:00PM
The New York metropolitan area is leading the country with 103.1 months worth of residential shadow inventory -- distressed properties that haven't come on the market yet -- according to property appraiser Jonathan Miller, who analyzed just-released data from Standard & Poor's (see the full report below). That's more than eight-and-a-half years' worth and a 3.3 percent increase over the shadow inventory level in the region last year at this time. Trailing New York by a long stretch is the Miami metropolitan area, which has 61.8 months of distressed properties in the pipeline, down 8.1 percent year-over-year. Despite that improvement, Miller points out that 61.8 months of shadow inventory -- upwards of five years -- is nothing to brag about.

FM me for full report.
What should you do? BUY-SELL-WAIT
E-mail me and I will discuss all your options.
[email protected]