It may still be a couple of years down the road, but a CalPERS bailout is coming. The Wall Street Journal reports An Apartment Complex Teeters One of the biggest, most high-profile deals of the commercial real-estate boom is in danger of imminent default, say people familiar with the matter, signaling the beginning of what [...]

Public Employee Pension Funds will need to cut benefits in the near future. They are bleeding billions of dollars and are left with few options other than doubling-down commercial real estate and other bad bets that they’ve already made. Make no mistake, pension funds are throwing a “hail-mary” passes to avoid either a taxpayer bailout [...]

The smaller homebuilder that we spoke with builds mostly in California’s Central Valley. He said that he had a meeting with the people from CalPERS last week where they warned him that they were going to be reducing their development loans to builders and that he should start looking for an alternate source of funding. [...]