most overvalued housing markets

Why Californians can’t afford to buy houses: Most of the most overvalued markets, according to DeKaser, are in California and Florida. Number one is Santa Barbara, where home prices, at a median of $564,100, are 69 percent higher than they should be. Close behind is another Golden State city, Salinas, where home prices, at $515,231, …

too little, too late

Budget cuts delayed New Orleans flood control work: “It’s clear that we didn’t do everything we could to safeguard ourselves from this hurricane or from a natural disaster such as Katrina but hopefully we will learn and be more prepared next time,” said Landrieu spokesman Brian Richardson. The levee defenses had been designed to withstand …

CNN calls Brown on bullshit

The official version; then there’s the in-the-trenches version: Uncollected corpses Brown: That’s not been reported to me, so I’m not going to comment. Until I actually get a report from my teams that say, "We have bodies located here or there," I’m just not going to speculate. Segal: We saw one body. A person is …

fox screws up, innocent family hurt

Sensationalist “journalism” at FOX misidentifies family as terrorists: The LA Times reports that featured Fox News contributor John Loftus incorrectly identified a La Habra, CA, home as that of a terrorist. The family of five who lives there has been harrassed ever since. … Loftus, whose “Inside Scoop with John Loftus” is a feature of …