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