Reggie Middleton: It Could Take 6.9 Years To Clear Out Shadow Inventory

Reggie Middleton told Bloomberg this afternoon that he believes it could take about 6.9 years to clear out the shadow inventory in the housing market. Middleton, who runs boombustblog.com, crunches his own numbers, has looked at several indexes, and conducts his own shadow inventory analysis. As far as when a turnaround might begin, Middleton told Bloomberg that he tries to be as agnostic as possible. “I would love to see where it's going,” he said. “I try not to assume where it's going.”