David Lereah, chief economist for the National Association of Realtors said some unexpected things recently.
Read:
New Gold Standard (Mish's Global Economic Trend Analysis)
Even 'Methuselah' Loans CanÂ’t Save This Housing Bubble (The Housing Bubble Blog)
Good Read.
My favorite Lereah quote is "If you have a healthy local economy it is almost impossible to have a bubble burst!”" Yikes!
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Than again, if you had a truely healthy local economy you don't have a bubble in the first place. Right?
ReplyDeleteHeadline at money.cnn.com:
ReplyDeleteBig bounceback in economy.
First-quarter GDP growth at 4.8% is strong, but not too strong. Key gauge shows dip in inflation pressure.
http://money.cnn.com/2006/04/28/news/economy/gdp.reut/index.htm?cnn=yes
David,
ReplyDeleteOT, but see this ad for someone wanting out of Halstead building two due to "unforeseen circumstances"
http://washingtondc.craigslist.org/rfs/155444250.html
Maybe unforeseen circumstances is code for "a massive glut of condos and desperate, price-reducing flippers bailing out of building one."
Enjoy!