Stating the Obvious
Chuck Ponzi November 11th, 2005
Recently, Cole Kenny over at The Boy in the Big Housing Bubble posted a great little vignette about the times we are in. He’s calling it the “No Duh!” days of the Housing Bubble.
Avid readers remember my post about “Illiquidity and Disinformation” back in April 2005. This seems like such a long time ago, but we all know that Mr. Kenny has nailed it with this one. We have definitely moved into a new period in the Housing Bubble. Anyone who follows the housing bubble knows this:
1. Pretty much everything that can be said about the Housing Bubble has already been said. People are left to just stating the obvious, and besides housing moves glacially slow; this will take a long time to ride down, and due to the “Yahoo Effect“, we won’t pay attention for long. Besides, noone likes to think or talk about the negative for very long; it’s fairly depressing.
2. The Housing Bubble no longer requires the use of quotation marks, and has even earned the status of proper noun in many writings. This is a surprising development, one that I wouldnt’ have expected 6 months ago… but there it is.
3. Seeing some people hold on to the mantra that there is Housing Bubble evokes feelings of pity and a bit of eye-rolling rather than holding credence. These guys are paid to say this, anyone with half a brain understands that the twin defecits, weakening dollar, Helicopter Ben, nonlinear psychologies, and stagflation will soon take their toll on the credit market which will choke off the housing bubble.
So, what’s one to do? Well, you might start by reading something like “Tired and bored of Real Estate” or just perusing the 65 Pages of links to Housing Bubble News over at HouseBubble.com
Or, just go vent your frustration at Ben Jones’ blog or patrick.net’s blog or just go to an open house and look around. Is that house really worth twice as much now than 3 years ago? If you truly like to wring your brain around some monetary policy head wringers, head on over to Macro Mouse.
Maybe even open a savings account?
Last but not least, you could always take some time just post to this site. Anyway you see it, we’re just stating the obvious.
No duh! I haven’t been posting much on my blog because I feel that I am just re-hashing the same old same-old. Like you say, everything’s been said, and then said again. And the RE Bubble is now generally acknowledged as being for real except for those folks who are paid to deny its existence. I guess it’s down to every couple month compiling the stats and posting them.
Amen to that. I always enjoy a good visit to your site to see what’s happening up north.
John Doe