Fledgling suburb bankrolled by CalPERS recovers along with real estate market “Born during the housing bubble, this San Joaquin County bedroom town was America’s most ‘underwater’ community six years ago, a reference to the ocean of homeowners who owed more than their properties were worth. Mountain House had another unhappy distinction: It was one of the biggest black holes in CalPERS’ investment portfolio.” (The Sacramento Bee) Pacific ...

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