California's Wacky Real Estate Follies

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.