Stop!

Shadow inventory grows in Southern California – Huntington Beach foreclosure with $1.4 million in loans and no payments made in a year. Auction scheduled for end of March in a mid-tier Southern California beach city.

The big story surrounding American housing has to do with distressed inventory that is not reported in any meaningful way.  It is amazing that even after the National Association of Realtors had to revise home sales lower and was blasted by those who …