Calculated Risk Blogger Sees Warning Signs in Housing

The transcript discusses economic concerns, particularly in California's high-end real estate market, noting a surplus of luxury homes and potential impacts from reduced demand by Chinese buyers. It compares California's market to the national scene, highlighting unique factors like high prices and strong economy. The conversation also touches on business optimism about the Trump administration's policies, questioning the tangible effects of anticipated tax cuts and deregulation.

What is the speaker's main concern regarding the housing market in California?

• A shortage of high-end homes

• A surplus of high-end homes

• A lack of luxury apartments

• An increase in low-income housing

Which areas in California are mentioned as being heavily invested by Chinese buyers?

• Irvine and San Francisco

• Los Angeles and San Diego

• San Francisco and San Marino

• San Marino and Irvine

How does the speaker describe the current situation in the California property market compared to 2005?

• A declining market

• Irrational exuberance

• A stable market

• A clear bubble

What is the speaker's view on the relationship between business surveys and hard economic data?

• They are directly related

• They are unrelated

• Surveys are more reliable

• Economic data is more optimistic

What is the speaker's opinion on the Trump administration's plans for tax cuts and deregulation?

• They are unnecessary

• They lack concrete plans

• They are already implemented

• They are well-defined