Realtors in Cars
is one of the strangest sites I've seen in some time
. I have no idea how these agencies got their realtors wedged into their cars, or why.
The Next Bubble: Priming the markets for tomorrow's big crash.
A layman's primer on the genesis and future of today's economic troubles, at Harper's Magazine.
What's the link between:
1) the quickly-growing number of American homeowners becoming unable to pay their mortgages after their ARM's reset (a trend nicknamed "ARMageddon"
-- applicable in the UK
too), which is translating into soaring foreclosure rates
, and in turn forcing at least 60 US semi-shady mortgage brokers
to go belly-up in the past year (i.e. the "subprime meltdown"
2) the recent implosion and impending financial bailout
-- which may become the biggest since the Long Term Capital Management fiasco
of 1998 -- of two Bear Stearns hedge funds which dealt in mortgage securities? [more inside]
BubbleFilter: Real Estate Roller Coaster.
] US Home prices adjusted for inflation plotted as a first-person ride on a roller coaster. Keep your eye on the bottom right-hand corner for the corresponding year. Don't worry about the dramatic ending. I mean really, how bad could bad get?
I've become obsessed with the idea of the Real Estate Bubble
. I don't even live in NYC or SF, but I must read Brownstoner
, and Curbed SF
every day. For more local, but less spectacular, chills I read Urban Trekker
. And for a more global view of the gloom: The Matrix
, The Housing Bubble
, and Bubble Meter
. Finally, for one last depressing shot, America's Overvalued Real Estate
tracks down the most depressingly overpriced "pieces of shit"
across the country. Related discussions here
, and (premature or prescient?) here
Dotcom Yuppies Gone Home.
As dotcoms crash and burn, real estate prices start to drop.
Who can say that's a bad thing?