2012-04-10doctorhousingbubble.com

The evidence for a mid-tier correction in many over priced California cities is building. For example, in Burbank California home prices continue to fall and MLS inventory is now made up of roughly 44% distressed properties. 3 out of 4 are short sales showing banks are more serious about moving properties. Even with this, the shadow inventory in Burbank is three times the listed non-distressed inventory showing a massive build up of problems yet to come



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