Zillow COO Spencer Rascoff was on CNBC this morning talking about the shadow inventory and the negative equity situations that are looming over the market as it tries to stabilize itself.
Internally, we’ve been discussing the shadow inventory among the bank owned, or REO, properties for a quite some time now, but somehow overlooked the segment of homeowners that Rascoff describes; that being homeowners who would sell, but aren’t in order to avoid competing against the flood of distressed properties that have been dominating the market.
Definitely something worth watching.
