California real estate market still hot according to panel

Major home and commercial builders downplayed concerns about a California real estate bubble at the annual Milken Institute Global Conference.

Despite a run-up in prices, "executives said the real estate market remained awash in liquidity, with easy financing available and a weak dollar to deliver foreign investors." Additionally, America, comparatively speaking, was still cheap compared to Europe and Asia.

Immigration and and seniors should keep the California real estate market for some time as the supply of houses continues to be out-weighed by demand, experts noted.

Read more from CNNMoney.