2012-12-29zerohedge.com

``Is another bubble in California possible? Absolutely. Prices are rising disconnected from household incomes. The only way we keep moving at the current pace is if all of the above groups continue to purchase: investors, flippers, foreign money, FHA loans, low Fed rates. Missing from the equation is household income growth but then again, this is repeating the history of the first bubble run.''


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