Homestead mailing list

[Gene GeRue <genegerue AT ruralize.com>]

On Apr 15, 2008, at 8:22 PM, Clansgian AT wmconnect.com wrote:

> > > Please provide an example.
> Very well.  The following should serve nicely:
>
> > As you well
> > know, my objection was--and still is--with the word bubble. I have
> > explained that in detail but your selective memory has chosen to  
> > forget.
> > >
>
> I haven't forgotten it, I just found it ridiculous.

And you are fully free to think anything I say is ridiculous.

>  If you don't like the
> word 'bubble', you could call it what you will.  Asparagus, even.   
> Then you
> could tell everyone that it was really just a housing asparagus, not  
> a bubble.
> Trouble is, when virtually everyone in real estate, economics,  
> finance, and
> government is calling it a 'bubble', your calling it something  
> different means you
> will not be understood, Mr Always Writing with the Utmost Clarity.

I would call it a severe and wrenching cyclical downturn compounded by  
too-lenient lending practices.

Btw, all the present political posturing about how they are gonna help  
by pouring billions on the problem of foreclosures is absurd. The so- 
called housing crisis could be solved within a year by simply giving  
home buyers a large tax exemption.
> In the economic use of the word, 'bubble' doesn't mean the asset has  
> to go to
> zero when the bubble deflates, it only has to return to its  
> fundamental value.

Yes, I understand that. I strongly resist what I think of as  
inaccurate, buzz-word reporting and speaking. Think of how "gate" has  
permeated our political culture. Watergate became Monicagate and then  
we have been subjected since to so many "gates" that ones loses count.  
To what end? I say, to greater misunderstanding and less  
accountability and progress. Such degradation of language reduces  
adults to children.
> You said it was just another cycle and, ho hum, you'd seen them come  
> and go
> and this one was no different.  Do you still maintian that it is no  
> different
> than any other housing cycle you've seen?

It is deeper than I expected. It is the deepest I have seen. The  
pendulum is way over to the side.

>   Don't want to dwell on negative
> news, you told us.  That's what I mean by glossing over and seeing  
> less than is
> really there.

I plead guilty to having a belief that it is better to err on the side  
of positivity than negativity.
> > > "Making more of a statement" is  refered to by others as seeking a
> > > deeper
> > > understanding.
> >
> > Putting words in someone's mouth; stating that they said something
> > that they did not say, is not seeking deeper understanding, it is
> > simply a shameful tactic. Some would call it lying.
>
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