Archive for September, 2011

The California problem of making too many renters into home owners – Home ownership rate back to levels last seen in 1993. From 2000 to 2010 population increased by 10 percent but owner-occupied housing jumped by 25 percent. Prime Encino zip code with 6 MLS foreclosures but 96 properties in the shadow inventory.

Lies, Damned Lies, and Shadow Inventory. Shadow inventory may be improving on a nationwide scale but not for California – Notice of defaults rise approximately 70 percent in latest month of data. Beverly Hills shadow inventory nine times the size of MLS public foreclosures.

The financial siren call of low mortgage rates – Federal Reserve continues to artificially lower mortgage rates to keep shadow inventory values inflated for banking allies.

Zoning out the middle class in California because of high home prices – The psychological and demographic impacts of an unaffordable housing market.

The surge of distressed properties in Burbank California – 435 shadow inventory properties when only 39 make it to the MLS. Foreclosure filings surge in California as Bank of America starts up the shadow inventory clearing machine.

Southern California fondly remembers Y2K by taking prices back to 2000. The typical monthly mortgage payment in California is now the same as it was in 2000. Over 50 percent of all SoCal home sales are distressed properties.

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