This is a serious resource on housing markets and the potential for a market bubble. I mean, I post the occasional link, but this is like, several essays and newsfeeds and what else who knows.
Links to: The Fed plays down a house-bubble, and on the other hand mortgage requests are down. Most notable, the ever-gloomy Stephen Roach points out that the US savings rate is approximately zero, and that “if it feels like a bubble, acts like a bubble, and looks like a bubble…”
I just like the feeling that someone is going to get hurt. I think it’s what drives people to tune in to American Idol.
Re Gramlich’s “scarcity of available land” argument: I live in the middle of a frickin’ desert, and the value of my house keeps going up like crazy. No scarcity here.
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