Yes, California’s housing market is erratic, as only two states have experienced more volatility during the past half-century. My trusty spreadsheet eyeballed price indexes from the Federal Housing Finance Agency dating to 1975 to get a long-running look at real estate swings for the 50 states and the District of Columbia.

The fires that swept through Los Angeles in January will have deep and long-lasting effects on the state’s already stressed insurance market.The fires destroyed more than 16,000 structures and resulted in losses of as much as $164 billion,

The 10-year yield fell below that of the 3-month note, marking an “inverted yield curve” that has a sterling recession prediction record.

Following storms, California is increasing its forecast of water supplies this year. The federal government also increased water projections for agriculture.

Federal Reserve officials at a meeting last month pointed to rising risks that inflation could worsen, a key reason they kept their benchmark interest rate unchanged