Archive for the 'california budget' 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.

I dream of California cognitive dissonance – Many Californians expect high level of services without paying the cost. The typical mortgage payment for those that bought last month was $964?

Empire in the California Sun – Home prices in California rose 109 percent from 2001 to 2006 and have fallen 37 percent since then reaching post bubble lows. California following Tokyo housing correction trend. 50 year trend between fixed mortgage rates and new home sales broken.

California home prices 50 percent off March 2007 peak – Why California home prices will be impacted by multi-year state budget deficits, higher interest rates, and a backlog of distressed properties.

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