If this doesn’t prove that there’s a massively overinflated real estate market bubble in the U.S., I don’t know what will.
Apparently, completing 6.2 miles of the 710 freeway between Pasadena
and Long Beach would require buying so much money in overpriced
historic homes that digging a $2 billion underground freeway tunnel
beneath the swanky neighborhoods has surfaced as a viable option.
Let’s repeat that: Building a $2 billion underground freeway is cheaper than buying a six-mile stretch of houses in Southern California! Yeah, that bubble is never going to burst.