10.23.2007

Goldman Sachs: California Suchs!

From a Goldman Sachs housing industry report (no link; go open an account, you cheapskates!):
House prices are significantly over-valued in California

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.
How do you like them apples, homedebtors?

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Thoughts on a #TradeWarTuesday

1) We're going to need to decouple from the evil Chinese regime. This started as a crazy Trump position but is now bipartisan consensus....