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Bubble Meter is a national housing bubble blog dedicated to tracking the continuing decline of the housing bubble throughout the USA. It is a long and slow decline. Housing prices were simply unsustainable. National housing bubble coverage. Please join in the discussion.
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The Bubble Meter Philosophy
The best way to get the housing market thriving again is to drop prices to the point where supply equals demand. Home sellers might not like it, but it's good for buyers and it's great for Realtors.
For Realtors, the best way to make more money is to sell houses quickly, and the best way to sell houses quickly is to convince the seller to drop the price.
For Realtors, the best way to make more money is to sell houses quickly, and the best way to sell houses quickly is to convince the seller to drop the price.
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Bubble Meter Archive
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2008
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January
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- CountryWide CEO Mozilo's Lie
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January
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wow did you read this:
ReplyDeleteUS mortgage crisis creates ghost town
http://www.breitbart.com/article.php?id=080127183107.ahcwfxrz&show_article=1
Thought on countrywide's new policies of catagorizing areas by risk. They must paint with a wide brush or they run the risk of being prosecuted for redlining laws.
ReplyDeleteThus, their solution of grouping by counties and/or entire metropolitan regions. Its perfectly legal to coordon off all of DC as their 'category 4.' But it wouldn't be legal to do so by street or zip code. It is no longer legal to 'quarantine' just the problem areas; they must quarantine the whole metropolitan area. This is an interesting side effect of socializing the risk.
https://www.cwbc.com/ContentManaged/files/
SoftMarkets.pdf
Got popcorn?
Neil
Dear MSM,
ReplyDeleteWelcome to the party.
While I seriously doubt it is the case here, there have been a number of cases where the MSM jumps on a story right at its peak and things turn around from there. I guess we shall see.
ReplyDeleteDear MSM,
ReplyDeleteWelcome to the party.
Lol...
Now I remember a long time ago Realtors (tm) were complaining about the news coverage. Now that the MSM is just starting to say it how it is.
Will tomorrow's expected 75 bps cut in the rate be countered by bond insurer downgrades? Ghad that has serious implications...
Sadly, Interesting times.
Got popcorn?
Neil
i saw on cnbc this morning that they were using this 60 minutes piece and the new Newsweek cover as "Pop Culture" evidence that the housing market has bottomed.
ReplyDeleteThe FIRST SIGN of media coverage and the damage is done, huh?