Seems highly unlikely to me. What does “1 year’s supply of foreclosures” mean, anyway?

What is the status of these alleged foreclosures? Are they vacant? Are the people still living there but rent free? I’m not aware of any of the former. And if it’s the latter, they’re really not foreclosures yet (and I haven’t heard of any of those, either).

Like you said, a grain of salt. Or maybe a truckload.