Tuesday, October 10, 2006

BubbleSphere Roundup

Keith's Housing Panic Blog has two wonderful posts attacking the REIC (Real Estate Industrial Complex. Realogy (owner of Century 21 etc) launches housing bubble propaganda counter-attack and another post one attacking the fully discredited David Lereah. "It's been amazing (and funny) to see the corrupt David Lereah spin lately. Now he's a the "we've been anticipating a price correction" stage of lying." It is impressive how often Keith posts on his blog.

Housing Prediction: Starts, Completions, Sales (Calculated Risk)
Greenspan: Worst may be over for Housing (Calculated Risk)
Support Your Local Bubble Blogger! (Housing Doom)
Breaking News- Kara Homes Bankrupt (BubbleTrack)
Commercial Real Estate: The Next Domino? (Sacramento Land(ing))

If you are addicted to the housing bubble news there is now a Bubble News Network (BNN) which features video news. Excellent!

Next FOMC Meeting ends October 25th. Stay tuned! [Another Pause.]

7 comments:

  1. It's pretty impressive when you hear the people with the education and experience saying that this is a normal cycle and that we're close to the bottom of it ... and contrast their realistic expectations against those by uneducated and inexperienced bloggers whose sole qualification for commenting is knowing how to maintain a blog. If I were a bubblehead at this point, I'd be doing my best to distance myself from any and all bubblehead beliefs and mantras! The end is near ... for this bubblehead foolishness!

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  2. Donald Trump said on Larry King last night that he doesn't see a bubble and that as long as interest rates stay low, there won't be a problem.

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  3. Funny Lance, you seem to ignore the analysts at Moody's, and numerous major Economists who think this downward hit is just starting.

    I'd say the education and experience seems to be on both sides. And anything "Bubbles" Greenspan has to say at this point is really suspect. He did a great job running a loose money ship which led to the late 90's asset bubble (equities), and then shifted to the early 2000's asset bubble (housing).

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  4. I'm one of those "educated" people, got my degrees in Mathematics and Economics and currently in grad in Math. Probably will do Econ PhD in a year.

    I'm not intrested in doing Macro, but please explain to me what reputable macro-economist talks of the "normal cycle" that we are currently in (with respect to this market)? Given very few people could have all the most current data right now, you probably won't find any sort of reputable emperical study comming out of academia until next year (If most academics in the top Econ depts even bother).

    Please don't act like your on some haughty stool.

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  5. Anon 11:41 -

    If you absolve the REIC of all blame, you must also absolve narcotics traffickers of all blame, too. It's only because of "idiots that buy," after all, right?

    Lance is going to lose his livelihood and probably his house. Property values are going to fall and stay low for quite some time. No one will talk, or blog, about real estate anymore. It will then be a "great time to buy," with a fixed rate mortgage.

    Notice we haven't heard from "VA_Investor" lately? My bet she's wandering the aisles at Wal Mart, muttering something about "low prices."

    The fix is in, folks. And there is plenty of anecodotal evidence to suggest it is far worse than the "REIC" is making it out to be.

    It is they, after all, that control and distort, er, "interpret," the numbers. I am still waiting for the "innovative finacing," the easy money, to dry up. There will be hell to pay when that eventually transpires.

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  6. I'm beginning to think that Lance is really David.

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  7. "I'm beginning to think that Lance is really David."

    The first rule of Fight Club is - you do not talk about Fight Club.

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