One of the things that I found most appealing about long form blogging back in the day was the ability to tell full stories, to create complete word pictures, and to convey complete concepts. In a world of sound bites, click bait titles, twitter feeds and short attention span theatre, the idea of writing in […]
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“How can you tell the country is not being torn apart by rioting? Because Joe Biden is just fine!”Sorry if I seem to be beating a dead horse, but the refusal of the “real estate industry” to admit the existence of the riots while writing all about their secondary consequences is my kind of fun. […]
“Ya think it’s easy?”Redfin: Everything about the iBuyers is funny, especially their Special Olympics approach to self-congratulation. Whose listings sell last and worst? But who is delighted to have had a national feeding frenzy to clear their overpriced inventories? iBuyer Activity Ground to a Halt in the Second Quarter, With Market Share Plummeting to 0.1%. […]
Joel Kotkin at The Daily Beast: Once considered backwaters, these Sunbelt cities are quietly achieving a critical mass of well-educated residents. They are also becoming major magnets for immigrants. Over the past decade, the largest percentage growth in foreign-born population has occurred in sunbelt cities, led by Nashville, which has doubled its number of immigrants, […]
I’ve been a vocal critic of Ben Bernanke. I thought his Quantitative Easing schemes would eventually create a bubble in the Treasury and mortgage-bond markets. Bernanke has committed to keeping rates low for another 18-24 months. I was wrong. I violated the first rule of market prognostication (from the late Marty Zweig): Don’t Fight the […]
A searing indictment of The Bernanking System in Business Insider: Once people start to come out of negative equity, even more of them will sell and try to get out from under the cloud they are under. So, the housing bubble orchestrated by the Fed and by the hedge funds and by the wealthy could […]
…when I laid down to go to sleep, all I could hear, over and over in my head, was Robert Duvall saying to John Wayne in the movie True Grit: “I call that bold talk for a one-eyed, fat man!”
The question comes from a comment to a post at Seattle-based start-up blog, GeekWire. The news? Zillow.com is bumping the per-share price on its forthcoming IPO to as high as $18, up from the $12-$14 range it started with when the public offering was announced. I like that question, because it parallels one of my […]
Our friends at Zillow.com have figured out the secret to getting news coverage: Bad news: Home values in the United States fell faster in the first quarter of 2011 than they have in any quarter since 2008, when the housing market experienced its worst performance, according to Zillow’s first quarter Real Estate Market Reports(1). The […]
Monday, I talked about how real estate is better described as a store of value rather than an investment, referencing the work Reason’s Anthony Randazzo published. Randazzo really hit it out of the park because he showed, without a doubt, how the residential real estate bubble started right after 1992. Look at the second chart […]
Debra and I had the good fortune to met Anthony Randazzo at a Reason Foundation dinner last week. Mr. Randazzo published an article today, about real estate as a “store of value” (which was consistent with what we’ve been talking about here on BloodhoundBlog). Few people will dispute that more homeowners adds “social value” to […]
…then we can start talking about a possible bubble in gold.”–Gary North, on LewRockwell.com Gold is an investment asset. It therefore will not become popular short of an economic collapse – hyperinflation followed by a depression. The average person owns no gold coins, nor will he anytime soon. Where would he buy them? How could […]
President Barrack Obama released his proposed 2012 budget yesterday. The jeers greeting this event, from all wavelengths of the political spectrum, suggest that, at long last, people have finally begun to take the measure of this pathetic little man-boy. Even so, there is at least one tax increase in the midst of the typically Obamaesque […]
It’s pretty much become the mantra in real estate, that agents, most of ’em anyway, never stop searching for the Holy Grail — which is of course the MagicButton (MB). Just keep pressin’ it and business overwhelms them. They’re idiots of course. I can say that with a straight face cuz when it comes to […]
Didn’t I just tell you mortgage rates will be rising, ten days ago? I sure did, and I think I offered a pretty solid, fundamental explanation of how the bond bubble will pop. That hiss you heard, directly after my post, was the rapid escape of helium from the bond balloon. Back then, the 4.0% […]