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California Has 18th Oldest Homes In U.S.

California Has 18th Oldest Homes In U.S.

Mike LaFirenza After more than a year and a half of a red-hot residential real estate market with high competition and record prices, recent months have shown some signs that the market is finally beginning to cool. Part of the reason for this is seasonal, as the fall and winter months typically see a lower […]

California Has Most Overleveraged Homeowners In U.S.

California Has Most Overleveraged Homeowners In U.S.

Mike LaFirenza Housing prices in the U.S. have reached record levels during the COVID-19 pandemic and show little sign of slowing down. A combination of strong demand, low inventory of existing homes, and constraints on new construction due to labor and supply shortages have sent prices sharply upward, with the median home sales price in […]

China Home Prices Drop For The First Time Since 2015 As Existing Home Sales Crash 63%

China Home Prices Drop For The First Time Since 2015 As Existing Home Sales Crash 63%

BY Tyler Durden | ZeroHedge Two weeks after we reported that China’s property market just suffered “catastrophic” property sales in September which invoked Goldman’s “hard landing” scenario and which saw total sales of 759.6b yuan plunge 36.2% from September 2020 (and 17.7% lower from the same period in 2019), deepening a downward spiral that started in July […]

California Had 4th Most Mortgage Delinquencies During The Great Recession

California Had 4th Most Mortgage Delinquencies During The Great Recession

Mike LaFirenza More than 18 months into the COVID-19 pandemic, much about the pandemic-era economy remains unusual and difficult to analyze. From a labor market that has both worker shortages and high unemployment to supply chain breakdowns and inflation fears, it has been a challenge to assess the true state of the economy and what […]

Libertarianism: No Infantile Disorder

Libertarianism: No Infantile Disorder

COLUMN by Joel Schlosberg New York Times columnist Ross Douthat could use a refresher on Freudo-Marxist psychiatrists. Douthat chides libertarians — or at least “the kind of libertarian who identifies forever with his 13-year-old self” — for taking a laissez-faire attitude to “a novel, obviously addictive technology that might well be associated with depression and […]

California Homeowners Spend Most On Housing

California Homeowners Spend Most On Housing

Mike LaFirenza Housing prices in the U.S. have been on a steep upward trajectory over the last year and are continuing to climb. Unusual economic conditions, strong demand for homes, and record low inventory have made the residential real estate market highly competitive and sent prices skyrocketing. According to data from the Department of Housing […]

California Has 6th Most Homes For Sale Among Youngest States

California Has 6th Most Homes For Sale Among Youngest States

Mike LaFirenza Strong demand in the real estate market has been one of the major economic stories of the last year. The COVID-19 pandemic put a premium on living space, while strong savings rates and investment returns, aggressive government stimulus, and persistently low interest rates have put the conditions in place for more homebuyers to […]

Controller Yee Updates State Retiree Health Care Liability

Controller Yee Updates State Retiree Health Care Liability

SACRAMENTO – The state’s net liability for retiree health and dental benefits is now $95.19 billion, according to a report published today by State Controller Betty T. Yee. The liability represents the present-day cost to provide health and dental benefits to state retirees and their dependents earned as of June 30, 2020 – one of the state’s largest […]

China Yuan Swaps Soar Amid Fears Evergrande Default Will Lead To Liquidity Crisis

China Yuan Swaps Soar Amid Fears Evergrande Default Will Lead To Liquidity Crisis

BY Tyler Durden | ZeroHedge The initial contagion from the upcoming default of Evergrande, which after the company’s hiring of bankruptcy advisor Houlihan Lokey is just a matter of days, is starting to emerge. China’s one-year onshore swap curves surged to the highest in almost four years, signaling market worries over liquidity shortage on potential default […]

California Has 85.5% Mortgage Loan Approval Rate, Above Average

California Has 85.5% Mortgage Loan Approval Rate, Above Average

Pent-up demand from the pandemic, low interest rates, and a shortage of properties have created a booming housing market with near record levels of refinance activity. While typical home values have increased by 15% from a year ago, the housing market is expected to stay hot in many cities through the end of the year […]

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