California Policy Center published an interesting study – interesting in all kinds of ways, including its outline of the doom-and-gloom future of state and local pension plans if stocks turn down sharply, preceded by its prediction that stocks will turn down sharply as valuations are totally unsustainable.
Already happening, with impeccable timing.
Moral Hazard Spreads: TBTF States?
Apartments Start Offering Move-in Incentives as Tenant Demand Slows.
Mega-landlord prepares for downturn.
“It doesn’t mean the market is going to crash tomorrow.”
Signs of a bust pile up.
This could get very ugly!
“All it takes is a couple of big tech companies folding and the floodgates open, causing the sublease market to blow up, rents to drop, and new construction to grind to a halt.”
Done in by a historic construction boom.