Here are the five stages of the Bay Area housing grief:
1. Housing bubble? What housing bubble? A national severe price distortion (in housing) seems most unlikely in the United States. (Alan Greenspan, October 2004)And for those who prefer something a little closer to home, click here.
2. Theres a little froth in this market, but we dont perceive that there is a national bubble. (Alan Greenspan, May 2005)
3. Housing is slumping, but despite what you hear from some of the Eeyores in the analytical community, a recession is not visible on the horizon. (Richard Fisher, president of the Federal Reserve Bank of Dallas, August 2006)
4. Well, that was a lousy quarter, but I feel good about the U.S. economy, I really do. (Henry Paulson, the Treasury secretary, last Friday)
5. Insert expletive here.
4 comments:
All I read was a lot of whining that the sellers made money. Whats your point? The manipulation of data (days on the market) have always been reset upon relisting.
US HOUSING?...Let IT "ROT on the LOT" until AT LEAST the end of 2nd quarter of 2007 !
We AREN'T living under Bridges and DON'T have to buy this Over-Priced CRAP !
I just noticed that video doesn't work in IE. It works fine in Firefox which is what I use. I'll try and see if I can fix it when I get home tonight.
Wow so true...many of my friends are taking a bath in NoCal and SoCal This is a great post here...I could not agree more! Dedicated to inform the public on real estate issues. Keep up the great work!
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