"We bought a house to store our furniture in. Not only did we save the money we would pay for storage, but I am sure we will make a nice return on the flip."
- Overheard from guy in Seat 4C on my America West flight from JFK to Phoenix
In hindsight, I should have seen the writing on the wall for the 2000 stock market crash when TVs in the sports bars around the country had switched from ESPN to CNBC. This time around, for the housing bubble, what will the concurrent indicator be? There have been countless pieces written about loose credit, speculative buying, and mounting interest rate pressure. However, when you hear a guy note that he bought a house to store some furniture, that has to signal a top, no?
Hedgestreet is now offering a futures market by which one can short residential housing prices. What do you think? I would be more interested if I could trade in markets I deem to be "purer" than San Francisco, Los Angeles, and New York. Meaning, finite amounts of land in unique places like San Francisco make me hesitant to ever be truly exposed to a naked short. That said, the heartland and mountain states appear to be chock full of cities where irrational real estate exuberance has taken hold.
Amazingly,in Los Angeles, home prices fell by about 25%-30% during the early 1990s. They did eventually level off again, but everyone seems to think that just because it's LA, housing prices would neever fall more than 5%-10% (if that) and even recent history shows that they are wrong.
Posted by: karen | May 23, 2006 at 10:50 AM
Well said, such a person should be a good sentence, or the future will be more rampant.
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It is hard to say such a thing is clear.
Posted by: abercrombie fitch | August 01, 2010 at 09:31 PM
Love is a feeling, not only on the material to meet, but also to the spiritual care and stick
ddd
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And you have sorrow and happiness day like the sea, I rushed in front of the loud cries of "you are always me!" At that moment my heart affects my entire Mens Vibram Fivefingers Sprint shoes green/blue/greypulse, I even can't hear my heartbeat, beating the so fierce, I tried to calm himself that the great happiness, feel oneself is like heaven bird fly, I am willing to stay in this life, even if the heaven, even in cold under populated behind the smiles, with warm hands deliberately to cover ears "hear, hear..."
Posted by: vibram.us | October 31, 2010 at 12:38 AM
Table with his mouth open the bag, and she drew curious. She graduated from junior high school, comb with pictures of two small brush, a few words, pictures and her boyfriend is in love, I. She and her two pictures: love is not my boyfriend, Junior, her boyfriend is not me... Finally, she is a photo of three years ago; she again according to send home without ever photo album, the last page has three lines, the first line: my girl, I wait you to grow up! Second: I copied all her time, I can stick me and she's future? The last line of big word: no, her happiness is my happiness... Pa, and a photo, but a young girl, behind several words,
Posted by: gucci.uk | October 31, 2010 at 01:16 AM