Housing Bubble 2.0: Prepare to Pop


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CASE-SHILLER-APRIL-BUBBLE-CHARTS

From Mark Hanson Advisors: http://mhanson.com/7-5-hanson-house-prices-ready/

The mind-numbing Case-Shiller regional charts below are presented without too much comment. The visual says it all.

Bottom line:

Q:  If 2006/07 was the peak of the largest housing bubble in history with affordability never better vis a’ vis exotic loans; easy availability of credit; unemployment in the 4%’s; the total workforce at record highs; and growing wages, then what do you call “now” with house prices at or above 2006 levels; worse affordability; tighter credit; higher unemployment; a weakening total workforce; and shrinking wages?

A:  Whatever you call it, it’s a greater thing than the Bubble 1.0 peak.

1)  Funny (and Demented) Seattle area Realtor anecdote regarding the potential for another housing Bubble: “House prices can’t be in a bubble because they are only 10% greater than the 2006 peak, meaning growth of only 1% per year since 2006. And 1% per year…

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About Here and Now

I write, blog, publish and rant about issues concerning foreclosure, real estate law and any topic of interest. My day job is Fashion and Costume Design.
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