The Mess That Greenspan Made has a well-done “guest blogging” spot but Stephen Colbert on America’s current housing market.
His conclusion:
So all you schadenfreuders out there, you can wipe that smile off your face because the housing bubble isn’t a bubble at all – and if it ain’t a bubble, it ain’t gonna pop. I know this because I just read Kendra Todd’s article at Yahoo! Real Estate where she said that the bubble is a myth and that, “real estate markets in many areas are going through a normal correction cycle.”
[It was an ad – look at the URL – it says promo]
I’m expecting a soft landing for housing and there’s nothing to worry about.
[Until next year]
I’m also expecting peace to break out all over the world, energy supplies to remain plentiful and cheap forever, the trade and budget deficits to correct quickly and painlessly, Republicans and Democrats to end their bickering, real wages to rise, health care costs to fall, education to improve, and all the world’s religions to merge seamlessly into a single unified understanding of God.
Heh. Well done.