Dear Friends: I am looking forward to chatting with Charles Fettinger of Doo Doo Economics and the San Diego Local Order of Bloggers (SLOBs) this Thursday on Canto Talk (Nov. 14, 7 pm PST/9 pm CT/10 pm EST; click here for podcast).
Some of our topics:
It’s not breaking news that the California housing market is heating up, but now the California Association of Realtors is confirming it on the record, predicting that the trend will continue upward into 2014.
In its latest forecast, CAR predicts primary home buyers will make a comeback after a period of tough competition with investors for what has been a limited supply of homes on the market.
“We’ve come up against an exceptionally low-inventory situation in California for at least the last year and half, and it has started to take a bite out of sales” says Leslie Appleton-Young, the association’s chief economist. She says the market is still “robust” but predicts a 2.1 percent drop in the number of homes sold this year over last year due to limited supply. But two trends are changing that, says Appleton-Young.
One is a rapid rise in home values. It’s lifting many underwater homeowners — those who owed more in mortgage payments than their homes were worth — providing them with the opportunity to sell. Appleton-Young says that’s beginning to boost the number of real estate listings.
With all the discussion, no one in the media is explaining why insurance companies supported ObamaCare. The progressive-socialist vision is of a health care system without “greedy” insurance companies. The president on many occasions called ObamaCare a “transitional step” toward government run “single payer” health care. So, why did insurance companies support a law designed to destroy their industry?
They were promised an unaccountable system ripe for massive fraud.
President Obama just apologized for the millions of insurance policy cancellations under the Affordable Care Act, usually called Obamacare. He also has blamed “bad apple” insurers for the cancellations.
But in California, critics of the program insist the cancellations were not made by the insurers, but by Covered California, the state’s implementation of Obamacare. California compelled insurers participating in the Covered California health exchange to cancel noncompliant individual policies.
“In California, insurers did not ‘choose’ to eliminate individual plans for the efficiency of one health-reform compliant platform, California forced it on them,” Craig Gottwals told me; he is a health care policy attorney and Obamacare expert with BB&T-Liberty Benefit Insurance.
He said Covered California didn’t want to leave to chance forcing people into the insurance exchanges. The San Francisco Business Times detailed how Anthem Blue Cross, Kaiser Permanente, Health Net and Blue Shield of California finally admitted their Covered California contracts required the cancellations. Other plans on the exchange are subject to the same contract language.