From Calculatedrisk Home loan delinquency rates keep going up. As I have mentioned before this may be one reason consumer spending keeps slowly rising as people are just not paying their home loans. . .
All these late paying homes represent a serious overhang of 'shadow' inventory hinted at by several blogs and news outlets. As you can see some portions of the 'shadow' can be quantified. When this data series finally starts falling we'll hopefully start to see an end of the inventory overhang . I'm not holding my breath.