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Debate House Prices
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Economist: House prices - Caught in the downward current
concorde
Posts: 36 Forumite
article from The Economist FYI....
http://www.economist.com/finance/displaystory.cfm?story_id=13337869
http://www.economist.com/finance/displaystory.cfm?story_id=13337869
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Comments
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I liked their mention of the book with the long title - "Are You Missing the Real-Estate Boom? The Boom Will Not Bust and Why Property Values Will Continue to Climb Through the End of the Decade — And How to Profit From Them"
If you wondered what happened to the author after the crash you can read about him here:
http://online.wsj.com/article/SB123152099299568447.html0 -
Oh, I did enjoy this...Mrs. Lereah, a CPA who also works at home, decided the only way she and her husband could work in the same house was if they pretended they were at outside offices. They communicate during the day by email and cellphone. Every morning, Mr. Lereah drives to a Dunkin' Donuts or McDonald's and eats in the car, just as he would have on his commute to NAR.
Sounds like a community service order of some kind!Debt free since September 080 -
My favourite -
''Long was the uphill march, long will be the downhill descent.''0 -
If you wondered what happened to the author after the crash you can read about him here:
"Once one of the world's most-visible housing experts, Mr. Lereah is disconnected from his old life. The former chief economist for the National Association of Realtors says the group's top executives won't return his phone calls. He says he wasn't invited to the association's 100th birthday bash last May."
He thought the Boom wouldn't Bust - a bit like Gordon Brown!0 -
"Once one of the world's most-visible housing experts, Mr. Lereah is disconnected from his old life. The former chief economist for the National Association of Realtors says the group's top executives won't return his phone calls. He says he wasn't invited to the association's 100th birthday bash last May."
He thought the Boom wouldn't Bust - a bit like Gordon Brown!
i am surprised the association still has reserves for 100th bday bashes. looks like their losses havent been that much!bubblesmoney :hello:0 -
Oh, I did enjoy this...
Sounds like a community service order of some kind!
More like care in the community
"One thing that is different, and has changed here, is the self-absorption, not just greed. Everybody is in a hurry now and there is a 'the rules don't apply to me' sort of thing." - Bill Bryson0 -
I like this part of the Article .........."Long was the uphill march, long will be the downhill descent." ... And so it will prove to be, despite what some would have you believe on here ..0
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