By Matt Phillips
10 a.m. — The census bureau’s update of housing vacancies for the third quarter will offer fresh data on so-called shadow inventory. Moody’s Economy.com says “the homeowner vacancy rate reflects vacant homes that are for sale. It has fallen 0.4 of a percentage point from the peak in the fourth quarter of 2008. However, over the same period, the number of homes ‘vacant and held off the market’ has risen to a new high, reflecting the rise in repossessions. Including these homes—which more accurately portrays excess supply, since many will end up for sale—the vacancy rate has barely budged after peaking in the first quarter of 2009.”
All day — U.S. midterm elections.
Earnings: A fair amount, including …
- Electronic Arts
- Wynn Resorts
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