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Keyword: reuterscrap
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Calif. housing bubble seen deflating-(40% value increase from last year... yuh... right)
SAN FRANCISCO - California has a housing bubble, but it may not pop with a bang, UCLA researchers said in a quarterly economic forecast. “There is no reason that a house should be worth 40 percent more today than it was two years ago,” UCLA Anderson Forecast economist Christopher Thornberg wrote in a report. “This is a bubble.”
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