Tiny bubbles

Tiny bubbles: Home prices surged 13.6% in the second quarter.

Observation: For the past year, predictions of a housing market bust have been a staple of the business press. Home buyers must not be reading the same stuff I do. Is there a bubble in the housing market? Or, is there a bubble in stories predicting how the housing market bubble is about to bust? I wonder which will collapse first?

  • Hudge

    Financial … commentator Dan Dorfman predicted the collapse of the 90s bullmarket for 5 or 6 years. He just never said exactly when, so he was right. Ditto those who said the tech bubble would pop.

  • rex

    Good point. I remember Howard Ruff who travelled the country for 15 years predicting a coming depression — I think he’s selling health food now. I think he also predicted earthquakes in California, also. They’ll happen too, no doubt. One day. Timing is everything, I guess.

  • Hudge

    As Jim Morrison so succinctly put it: “The future’s uncertain and the end is always near.”

  • Mark

    Not that Bill or Rex would care, but the newest Chemical Brothers CD has a great remix of Roadhouse Blues. It’s more for those of us who like that electronic music stuff…

    In true Rexblog fashion, I predict my home will not bubble or burst. I’ve checked my new “worth” given me by Metro’s tax assessors, and can assure you I couldn’t sell it for what they seem to think it’s fair to tax me for. Harrumph!

  • Hudge

    Rex, you are always so kind and accommodating to journalists who dabble in reporting statistics and surveys, I thought this might be of interest:
    http://www.nytimes.com/2005/08/19/realestate/19real.html?th&emc=th

  • bhudgins

    As Dan Dorfman so admirably proved, if you consistently say the same thing long enough, eventually it may come true:
    http://money.cnn.com/2006/08/15/real_estate/Metro_home_prices_fall/index.htm?cnn=yes