From San Diego’s own Reasons Unbeknownst on Are Economists Too Optimistic on Housing’s Soft Landing?:
“I do not see a Housing Bubble; rather, we have an extended asset class”
B.R. (Barry Ritholtz)
“I’m not fat, I’m big boned”
I find it amusing that the same people who missed history’s biggest bubble ever — late 90s Dot.com/Tech Stock bubble — are now experts at spotting bubbles everywhere else. Puh-leeze.
A recent survey has 80% of respondents saying U.S. Housing is a bubble — I doubt if it is if that many people say so.
Cut rates to half century lows, and of course housing will skyrocket; As rates tick up, expect a retracement back.
Wow, the great Barry Ritholtz commeted on my blog. Either that or someone went to a lot of effort to fool me. Either way, I’m honored.
As for the topic, I’ll throw in that different areas of the country look a lot worse than the national average. Of course there is no national real estate bubble. However certain markets do look suspect. Is there one here in downtown San Diego? Time will tell.
Hey that was me, Kirk, from Unbeknownst.net Just giving him a hard time 🙂 I like the fact that he reads other blogs, I think that’s one of the prerequisites for consideration as a true blogger.