Housing is down, but Mish recalculates by percentage price range, and sees the drop in total value quite a bit more. Seasonal adjustments for housing have been awkward because of warm weather and Chinese buyers.
Housing is down two points or so in California, and that is putting the brakes to a lot of retirees who were planning on a larger windfall. The price drop means more retirees will stay put, unhappily, in Calizuela.
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