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Housing Bubble Burst is a Conspiracy!

Friday, January 06, 2006

News reports that the housing bubble has burst is being discussed as a conspiracy of the main stream media on Political Dogs, a political blog.

Paul Krugman, a liberal columnist for the New York Times, says that home prices have lost touch with reality, and that America is in for a "nasty correction".
Krugman attempts to educate not only the Times' and Moody's real estate journalists, but also you poor slobs who believe their report indicating that housing prices have never been more affordable. He does so by enlightening us with his mastery of the history of housing prices and historical economic conditions but misses quite a few facts which cause his entire analysis to fall on its butt.
With so much of the main stream media having a liberal bias, are they rooting for a collapse of the real estate industry? I for one don't believe there's even a housing bubble, let alone an imminent collapse. I think this analysis from Political Dogs sheds light on what I've suspected, the liberal media over-reporting on a mythical housing bubble, in hopes of creating panic, and realizing a self-fulfilling prophecy, ultimately making the Republican controlled government look bad.

7 Comments:

  • How about the liberal organizations like S&P, Merrill Lynch, Northern Trust, Goldman Sachs and others.

    Merrill called the "housing shortage driving the bubble a gigantic hoax".

    How about UCLA, Chapman University, CSU Fullerton and UCI?

    The evidence is a bit overwhelming unless you are in faith based reality. It is your right to believe your drivel just don't ask fellow taxpayers to bail you out of bad decisions.

    Go buy some more property and trees will grow to the sky.

    By Anonymous, at 10:37 AM  

  • Ha! It's a vast liberal media conspiracy! No.. it's the terrorists! No... it's the French! No.. .it's the Canadians. They're coming to get us!

    LOL, what a joke.

    The real estate industry will not collapse if prices fall, in fact, it will be in BETTER shape because houses will be easier to sell at prices that are affordable to more people. So what you should be expecting (as happens over and over again since history started to be recorded), is that following a boom is a bust. And that's OK, it's the natural cycle of things. It just happens. Once the bust is over, the next boom can begin. And so on.

    By Anonymous, at 1:02 PM  

  • There is no history of housing boom followed by bust. Where did you develop that crap?

    The only housing bubble exists where there is insufficient incomes to support prices. That ain't the case in California or New Yawk. Check out some markets not located in the media centric Northeast and SoCal. Here's one to try out, how about the technology-research triangle in North Carolina where prices have risen at the amazingly fast rate of about 5% per year. You think there's a bubble there? Try most other places that are not New York, Boston, San Francisco or LA. Most of those other places have NOT had similar rates of increase.

    By Anonymous, at 4:30 PM  

  • Well, I'm in the home building industry employed by a huge nationwide business, although in the HR function. But I can tell you from what I hear we have more trouble finding big enough chunks of buildable lots than we do have trouble selling homes at the current price. Whoever said we would make more money because we could sell faster if prices dropped is wrong.

    By Anonymous, at 5:13 PM  

  • My $0.02 from the world of marketing to real estate agents and also from a world of COMMON SENSE is that there will never be a bust. World population growing as it is would indicate that there will always be a need for housing and more of it.

    I believe my Economics class tought me that where there is demand there is supply and I don't see the demand going away anytime soon unless something comes along and wipes out a pretty hefty size of the worlds population.

    Again, simply my $0.02.

    By John Jones, at 2:20 PM  

  • The real estate market is cyclical. It goes up and it goes down. However, the trend is always upward, and will always go up. It may be flat for a few years or even go down temporarily. But the trend is always upward.

    By Marlow Harris, at 5:21 PM  

  • There's something happening here.
    What it is ain't exactly clear.

    Stop children, what's that sound? Everybody look what's going down.

    I said stop children, what's that sound? Everybody look what's going down.

    Nobody's right if everybody's wrong.

    By Anonymous, at 2:54 AM  

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