Time Magazine in a web exclusive has an article titled 'What Real Estate Bubble?' which takes a stab at the notion that there is a bubble. Thanks to the NY Times Walk Through Blog for finding this article. In the article it quotes a 'favorite expert' David Lereah who states "This looks like we're touching down for the soft landing we've been expecting."
Later this year, there is likely to be a front page cover story in Time Magazine featuring the housing bubble and the economic fallout.
Time will tell.
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Later this year, there is likely to be a front page cover story in Time Magazine featuring the housing bubble and the economic fallout.
ReplyDeleteExactly, big media wants bubbles, big headlines, crazy things going on. They love it.
Related to crappy big media is my idea for small media (e.g. bloggers) to make money. If 10 or so popular blogs can get together and collectively bargain with advertisers they are bound to make more money.
ReplyDelete"the soft landing we've been expecting"??? This quote is coming from the guy who just last year wrote a book about how r/e prices would boom over the next 5 years.
ReplyDeleteI guess we found out that at 5.50%
ReplyDeleteinterest ...they will come ,at 6.50% interest plus 100 thousand more price tag they won't come . I sold last year in peak of market .Good thing a guy bought it for cash . I dont have to worry about the guy going into forclosure. He was a owner occupied long term buyer .This guy sold a overpriced house up North and got the house I lived in for 20 years . I didnt know at the time that this was the peak.... all I knew was I needed to retire to a cheaper house and scale down for retirement .
john fontain makes a GREAT point. The same EXACT thing happened with the stock market bubble. As the NASDAQ crashed from 5000 to 1200 or so, all the experts said "well, this is the flattening we all told you about." LOL. The shame is that the stock market pumpers are still respected columnists. Maybe this is why history has repeated itself so soon after with this housing bubble.
ReplyDeleteMore evidence that real estate investing is on its way out?
ReplyDeletehttp://money.cnn.com/2006/03/07/markets/markets_feature/index.htm?cnn=yes
PAST PREFORMANCE IS NO GUARANTEE........except for the NAR
ReplyDeleteThis seems like a DC centric site. Does anyone have any opionions on the Center for Regional Analysis at George Mason University. Their top guy is Stephen Fuller who is a housing bull. They just posted the following analysis http://www.cra-gmu.org/. Just curious what other folks take is. My take is that is entire analysis focuses on the fact DC is growing but doesn't go into other aspect (i.e., price, rate of new home construction). Sort of looking at Google's growth rate without considering the P/E ratio.
ReplyDeletePretty cool site!
ReplyDelete