Elliott Pollack’s slides from the Governor’s Housing Forum last Friday. (Hat tip BloodhoundBlog.)

It would have been nice to hear Elliot’s presentation but you can learn a ton from the slides alone.

I used to think the California flippers were the number one reason for the current oversupply of homes for sale. Now, I’ll point the finger at the builders first, and the investors/speculators second.

(I still attribute the crazy price increases in 2004 and 2005 to the California investors first.)

Don’t miss these slides.