Archive for the 'california budget' Category

A tale of two California economies – Large budget battle looming in November. Los Angeles County has 38,000 properties in the shadow inventory with 16,000 of those having loan balances above $400,000.


Groundhog Day – California budget deficits pop up once again. California hyper cyclical with tax policy. What does a normal housing market for California look like?


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.


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