Former U.S. Treasury Secretary Hank Paulson is interviewed about housing:
Sorry about the lack of blogging last week. I was out playing in the snow.
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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 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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2010
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February
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All Paulson did was kick the can down the road and run for the exits, such that the collapse would not happen on his watch. Icing on the cake is that he made his banking buddies even wealthier with taxpayers money, and in the circles he hangs out with he is "da man". He should be tried for treason.
ReplyDeleteHey Nonpartisan - just doing a quick reality check here.
ReplyDeleteOver the past year, you oh so confidently told us that Case Shiller in DC would bottom at 115 and we should "watch and learn" as your prediction came true.
As it stands right now, Case Shiller is at 179 and change, well off the bottom of 165 reached in March 09, and a far far cry from your absurd prediction of 115.
Sooo, anyway, now is a chance to redeem yourself - hopefully the last years smackdown of your ridiculous predictions has knocked some sense of reality into you.
So the question is, are you now, as of Feb 15, 2010 willing to eat crow and admit that 115 is a pipedream, or are you going to embarass youself further and affirm as of todays date that we all should "watch and learn" as Case Shiller in DC hits 115 by the year 2013?
On the one hand, if you eat crow now, you stand to end the pain as I eventually lose interest in you. Plus, you only look like a fool for the past year on this blog as history will show you eventually accepted reality.
On the other, if on the under 1% chance that your 115 prediction comes true, you get to throw that in my face for years to come.
So whats it gonna be friend? Will you (a) admit reality now and eat your big fat crow, or (b) double down on your 115 bet, thereby affirming your status as the biggest fool this blog has ever seen?
I will now triple dog dare. No doubt. Housing is going to get crushed. The collapse has been delayed by obvious forces - and they have only made the endpoint even more dire. No free lunches. And you can go back to your herd of sheeple now....
ReplyDelete(b) it is my man! OK good stuff - see you in April when your first (of many) predictions about prices goes belly up!
ReplyDeleteNP, bold, very bold and I like that but you aren't looking at the "forces".
ReplyDeleteEvery month, BRAC is one month closer to Seminary/395 and Anacostia. Even Ft Belvoir BRAC is a reverse commute on 395 from the city center.
This morning? 103.5FM, tune in. As bad as traffic is everywhere, the traffic streaming inbound will remind people the jobs are two and three hours ahead of them.
However you look at it, commerce and business is active. People doing the work, earning the money, need a place to live.
Not the best news for those markets who might suffer a double dip in the prices. However, this might be good news for some of us internationals. For example, growth is predicted in many Canadian real estate markets, and considering the relative strength of the Canadian dollar you might see Canadian investors favouring US realty as prices in Canada go up.
ReplyDelete