1300 foreclosures every business day in California, says the L.A. Times. And as reported by the Sacramento Real Estate Statistics blog, Deutsche Bank, which is one of the largest servicers for securitized mortgages and therefore probably actually has some facts to work with, says that the MLS inventories are dwarfed by the “shadow inventory,” the backlog of unlisted foreclosures and bank-owned properties. To say nothing of the folks who are hanging on and hoping.

Obviously just another reason to buy tech stocks, people will be running out to buy Blackberries and iPhones so that they can stay connected while living in their Hummers.