I'm forever blowing bubbles...
more and more news stories are highlighting the very disturbing trends in the real estate bubble... i've posted twice over the past few days (here and here) and now these...
More than a third of the mortgages written in the Washington area this year are a risky new kind of loan that lets borrowers pay back only the interest. [...] "Somebody is going to have the chair pulled out from under them when they find prices have leveled out and they try to sell, only to find they can't sell for what they paid for it." [Allen J. Fishbein, director of housing and credit policy at the Consumer Federation of America]
after paul krugman's opinion piece yesterday, the nyt weighs in again...
Four days after Alan Greenspan, the Federal Reserve chairman, pronounced the nation's housing market frothy, a new report on home prices this week suggested that he might have been understating the situation. Even after one of the steepest run-ups on record, home prices have jumped another 15 percent over the last year.
While gleeful about their apparent riches, homeowners in many of the hottest areas are also growing concerned. How, exactly, does one know if the family palace is sitting atop a bubble about to burst? Submit To Propeller
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More than a third of the mortgages written in the Washington area this year are a risky new kind of loan that lets borrowers pay back only the interest. [...] "Somebody is going to have the chair pulled out from under them when they find prices have leveled out and they try to sell, only to find they can't sell for what they paid for it." [Allen J. Fishbein, director of housing and credit policy at the Consumer Federation of America]
after paul krugman's opinion piece yesterday, the nyt weighs in again...
Four days after Alan Greenspan, the Federal Reserve chairman, pronounced the nation's housing market frothy, a new report on home prices this week suggested that he might have been understating the situation. Even after one of the steepest run-ups on record, home prices have jumped another 15 percent over the last year.
While gleeful about their apparent riches, homeowners in many of the hottest areas are also growing concerned. How, exactly, does one know if the family palace is sitting atop a bubble about to burst? Submit To Propeller
Tweet
posted by profmarcus at
5/28/2005
