Mr. Mortgage: CA Housing Stats…The Real Story. 4.25 Years Supply

``Most think the CA ‘housing crash’ has been ongoing for a couple of years. That is not the case... California has YEARS OF INVENTORY to burn through. The numbers show 4.25 years of listed and ‘Shadow’ inventory is out there and that is using the most liberal April Total Sales figure of 31,500 units, which was large in comparison to past months but appropriate, as we are in the Spring/Summer home selling season. I was also liberal by using the April New Bank REO figure, which we already know will increase over the next several months.''