Archive for the 'real-estate' Category

Mark to fantasy model of real estate accounting. California property assessments down only 4 percent from peak but home values are down by 37 percent. FHA default rates surge.


Manic California – state budget gets worse with projected deficit of $20 billion on the books again. Aging population fastest growing segment in next decade. Disturbing trend of replacing smoking with a double latte.


Day of reckoning for shadow inventory and distressed properties – 40 percent of properties in foreclosure have not made a payment in two years or more.


Trifecta of keeping the housing bubble inflated in pocket markets –Senate votes to reinstate big loan limits, pushes visas for wealthy foreign home buyers, and artificially slams rates lower to hammer savers.


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