1 Out Of 21 Distressed Properties Show Up On The MLS For Pasadena

Doctor Housing Bubble relates the MLS only lists 29 homes as foreclosures for Pasadena.  I did a quick search on the shadow inventory (NODs, scheduled for auction, and REOs) and pull up 636 homes for Pasadena.  In other words, the MLS is only showing us 1 out of every 21 homes in distress for Pasadena.  Just for reference, the median household income of Pasadena is $61,000.

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