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


Shadow inventory Armageddon – Foreclosure timeline up to an average of 599 days with 798,000 mortgages having no payment made in over 1 year and no foreclosure process initiated. Shadow inventory grows to over 6,540,000 properties.


The internalization of toxic loans and the growing cracks in the shadow banking economy – Half of 7 million California home owners are baby boomers. Who will they sell to in the future?


Lords of the shadow inventory – over 3 million homes locked away in shadow inventory near peak levels. Prices must fall to prevent massive drawn out drag to economy. California sold 38,000 homes in June but added 43,000 foreclosure filings.


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