The blogger over at the Housing.com blog declares today "The Day The Bubble Died." He further states " Well, to coin a phrase, the earnings reports have come home to roost. We may be in for a severe economic shock in the next few months, but we will emerge from it stronger, with hopefully less reliance on consumer debt and inflated markets to drive our spending and investing. Today's the day the bubble died. Hallelujah." Indeed, today was an important day in housing bubble history.
I actually personally met the blogger behind this most excellent blog. The blogger was smart, astute and friendly. The Housing.com blog rocks.
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Hey Dave, you're still talking about that housing bubble? Followed the link to here from GH. Cool.
ReplyDeleteHey Alan,
ReplyDeleteThanks for dropping by. I didn't realize you were a GH reader. How's life?
David
Calling the death of the RE bubble seems premature IMO. I'm waiting to see what the Spring selling season does in my neck of the woods. If it's down, then I could more confidently say the bubble is finally popping.
ReplyDeleteNone of us feel confident in calling the top because there could always be a head-fake and go up in the spring like it did in '04 and '02.
ReplyDeleteStill, it seems different this time around since the media has jumped on the bandwagon. A lot has happened to raise out-of-whack valuations awareness since this summer. Besides, inventory is going crazy; if demand slips at all, we'll be at 6 months supply in no time in SoCal.
Besides, real estate is glacially slow for those of us used to real-time securities tracking. It's like looking at a 1-year or 5-year chart to try to predict what's going to happen after tomorrow's opening bell.