what we don't want to know about real estate

total housing inventory is 131 million
occupied is 112 million
vacant is 19 million - this is the oversupply
4-5 million are second homes
another 4-5 million will never be lived in again

2/3 of all households own a house
that is a total of 75 million
51 million of those are mortgages
of which 99% are gov't. backed
24 million are owned free and clear - you want to be here
since '08 the default rate has been and is currently 20% YEARLY
that's 10 million per year
another 5 million are 60 days or more late
70,000 loan modifications were canceled in MARCH

vacant housing units equal 19 million
of which 10 million is foreclosed inventory
520 months or 45 years to clear inventory
at the current rate of sales!!