California

The untimely end of San Francisco’s Tech and Housing Bubbles

by Wolf Richter •  • Comments Off on The untimely end of San Francisco’s Tech and Housing Bubbles

“Recently, the billionaire venture capitalist Vinod Khosla went hunting for one-bedroom apartments in San Francisco….” And then he opened his mouth.

Dang, The Wine Bubble Implodes (It’s China’s Fault)

by Wolf Richter •  • Comments Off on Dang, The Wine Bubble Implodes (It’s China’s Fault)

Many in the industry believe that in China, 90% of the high-profile wines, like certain Bordeaux, are fake. Devastating thought if you keep wine in a refrigerated vault as an asset class. And prices have collapsed. But it’s not all doom and gloom, not with California wines.

The Big Losers in the California Shale-Oil Fiasco

by Oilprice.com •  • Comments Off on The Big Losers in the California Shale-Oil Fiasco

Executive Report with ISA Intel: Slashing the smoke-and-mirrors hype of the Monterey shale by 96% socked not only oil companies but also the state of California that was dreaming of $24.6 billion a year in revenues and 2.8 million jobs, now dissipated into thin air.

Housing in Six Cities in the West

by Wolf Richter •  • Comments Off on Housing in Six Cities in the West

That’s how it always starts: with a deadly mix. Home sales are collapsing while inventories are soaring in six housing markets that had been white-hot just a few months ago.

Housing Bubble 2.0 Veers Elegantly

by Wolf Richter •  • Comments Off on Housing Bubble 2.0 Veers Elegantly

They’re not even trying to blame the weather this time. “Housing affordability is really taking a bite out of the market,” is how Leslie Appleton-Young, chief economist for the California Association of Realtors explained the March home sales fiasco. “We haven’t seen this issue since 2007.” In Southern California, the median price soared to a…