Given the current sales volume, it would take the Chicago area 16 months to sell the traditional and distressed inventory on the market. That doesn't include the so-called shadow inventory of homes with delinquent mortgages, those in foreclosure and homes that have been repossessed by banks but have not been listed for sale
information provider CoreLogic said it would take more than 30 months for the Chicago area to work through its supply of distressed housing, including those homes in shadow inventory.
Click on the following for more details: Foreclosures; shadow inventory in Chicago - chicagotribune.com
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