HOUSING BUBBLE UPDATE: Real distressed properties of Corona del Mar – Most expensive zip code in Orange County lists 2 foreclosures on MLS but has 28 properties in the shadow inventory. “According to LPS Applied Analytics nearly 40% of homeowners in default have not made a payment in at least two years. The typical foreclosure now takes 674 days. It is one thing to talk about some middle class family in a $150,000 home struggling to get by because of a job loss or illness. But what about squatters sitting in million dollar homes in prime locations?”