David I. Kranzler | Jul 25, 2013 02:25AM ET
There is a ton of chatter today over “NAR Listed Inventory” levels being so low. This is a red-herring. It’s lunacy…for the life of me, I can’t understand where people get these wild haired ideas in the “new-age” housing market. Come on…really??? One house for sale could be massive supply in a market of dead people. [I love that quote]
Remember, one cannot compare today’s housing metrics with 7, 17, 27 or 57 years ago. That’s because today 50% of all mortgaged homeowners — throughout history the most influential demand cohort — are LOCKED-IN due to negative equity, “effective” negative equity, a legacy HELOC not written off preventing them from getting a mortgage, and/or insufficient income/credit needed for a mortgage loan. - Housing market consultant, Just another one of Obama's "social welfare" programs funded by the middle class that transfers a little money to idiots and a lot of money to the banks. Thanks Barack!
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