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 tell ...
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Despite the awesome bull market this year, CalPERS again missed its return target, earning only 5.8% vs. its required 6.8%. CalPERS has mi...