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: Mortgage Lender Implode-o-Meter

Los Angeles County has 2,205 Homes that are valued at $1 Million or More in Shadow Inventory. MLS Only Lists 32 Foreclosures with a Price Tag of $1 Million or Higher.

By Implode-Explode Heavy Industries

" Million dollar home sales in the state continue to fall. In 2009 California saw 18,621 homes sell with a price tag of over $1 million. That is a far cry from 2005 when over 54,000 homes sold with a price of $1 million or more. But one thing that is rarely mentioned is this massive decline is due to the elimination of toxic maximum leverage mortgage products like option ARMs. "

Full post as published by Mortgage Lender Implode-o-Meter on April 14, 2010 (boomark / email).