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News, week of November 17, 2014
Study finds barely 1 in 5 LA homes affordable to middle class
In a story reminiscent of the housing bubble of a decade ago, the LA Times reports that Los Angeles County is the second least affordable housing market for the middle class in the US.  San Francisco is the least affordable, and 6 of the 7 least affordable counties in the U.S. are in California. (More)
Detroit retirees to appeal pension cuts
After the judge overseeing Detroit’s bankruptcy filing stated he thought there was a 25% chance that his ruling allowing pension cuts could be overturned on appeal, a group of retirees has filed an appeal, according to this Detroit news article. (More)
Investment Institute says DB retirement plans essential
A paper by Callan Investment Institute reports that large DB funds are critical to capital markets, for some a DB plan is the only source of a stable-predictable retirement income, and the expenditure of retirement funds by retirees is part of the engine driving local economies. (More)
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