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  • From: Gene GeRue <genegerue AT ruralize.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Housing bubble fizzle
  • Date: Fri, 21 Jul 2006 08:24:27 -0500


What would you have expected him [Fed chairman, Ben Bernanke] to say? Under any circumstances?

The eyes of the world are upon him. Like Greenspan, Bernanke knows that his words can move markets, so he is circumspect. Circumspection does not include untruth.

But how would you interpret this: here abouts we went from the
having one house in probably eleven having a 'for sale' sign to two in eleven (just from eyeballing from driving by). That could still qualify as a 'safe landing' I suppose. BUT every vacant lot and acreage, even places you would't imagine there was land for sale, every one of those has a 'for sale' sign.
It is amazing to behold. It seems that within a period of no more than two
months everyone who's been holding onto a lot is trying to sell it.

I''ve got my own ideas, having to do with the expectation of "investors", but
what clue would that give you?

That is a common phenomenon. The masses have been inundated with both greed hopes and fear about housing for the last four years. The sky is the limit or the sky is falling, choose your pundit. Thousands of newspaper, magazine and tv pieces have pounded the masses with "price appreciation is rising faster than a comet," to "it's a bubble, bubble, bubble, and it's going to pop, pop, pop!" The poor folks are crazy with wondering what they should do. What most conclude is that smart investors are selling in the cold spots and buying in the hot spots. Perhaps your area is a cold spot.

Be grateful. Such a condition as you describe would predict a falling population.





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