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The Shadow Knows

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It's a term that strikes fear into the hearts of everyone in the real estate industry: shadow inventory. A new S&P report attaches some numbers to the words?which might make them more frightening, depending on your neighborhood. It will take more than 10 years to clear up the state's residential shadow inventory, and in NYC specifically, Brooklyn's shadow inventory will take more than 17 years to get through. Inventory in Bronx will take 16.5 years, and in Staten Island, 12 years. Manhattan has it easy once again, with just eight years of shadow inventory. [Crain's]