California's Wacky Real Estate Follies

Charles Feldman
Updated
Venice Canals, California. The state has been hit hard by the housing crisis.
Venice Canals, California. The state has been hit hard by the housing crisis.

I guess it's good to be unique. But is California a little too unique for its own economic good? It seems the nation's real estate crisis is playing out a bit differently here than elsewhere. Maybe it's because we are so big? Or so populous? Or so broke?

As they say in SoCal: "Whatever!" The fact is, the mortgage market is, well, different in California.

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