House prices are significantly over-valued in CaliforniaHow do you like them apples, homedebtors?
Our house price model indicates that Californian homes are 35-40% above the price range implied by current and forecast economic conditions (compared to 13-14% over-valuation nationally). As of August the median house price in California was $589K, but economic conditions support prices between $350-380K; material price declines are likely, in our view.
Goldman Sachs: California Suchs!
From a Goldman Sachs housing industry report (no link; go open an account, you cheapskates!):
Body Count goes to Vegas! Ernest Scherer III was a Vegas loser who fancied himself a professional poker player. Doesn't that photo t...
UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a...
I talk a lot about inflation. But today was the first time in my life I actually used a dollar bill as toilet paper.