Here are some examples of California real estate shadow inventory, thanks to Dr. Housing Bubble.
As you know I have been following him for quite some time and he really did predict the housing bubble correctly.
Today he is talking about a 672 sq ft Pasadena "condo" to which he is giving his Home of Genius Award.
The award is based on the property's creative financing that was 100% by JP Morgan Chase in 2006.
Interesting. Read Real House of Genius Dr. Housing Bubble
I: 
The Housing Bubble Blog » Bits Bucket For May 15, 2010
2010-05-15 02:32:35. “Markets are becoming aware of the fact that the decline in house prices is not stopping. I have no particular regrets. The housing bubble is not a reflection of what we did, as it is a global phenomenon.” …
The Housing Bubble Blog » Bits Bucket For May 14, 2010
Noting that after the last late 80's housing bubble home prices didn't bottom (in inflation-adjusted terms) until 1997 – 3 years after vacancies bottomed, and 7 years after vacancies peaked. If the same timeframe happens that means home …
The Housing Bubble Blog » The Problem Is The Bubble And That Hasn …
“Australia is in the midst of an unsustainable housing bubble that could burst at any time, warns the man who predicted the global credit bust of 2007. Edward Chancellor, of US investment management firm GMO, says the Australian economy …
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