More msm coverage of the bubble bursting... watch the commercial but then it goes right into the video
Once people (and speculators) realized that there was no future appreciation, sales dried up and listings exploded. Why pay $5000 a month when you could rent the same house for $1500 a month if there'd be no appreciation (i.e. windfall)?
So, now we fall all the way back to where rents = monthly ownership costs.
That darn PE ratio - gets the bubble every time...
March 04, 2006
NBC Nightly News - another "the bubble has burst" report to freak out the general population
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4 comments:
why oh why does the main stream media continue to run to the NAR and realtors for their "word from the street"
That'd be like the MSM running to the corrupt internet analysts during the .com meltdown
oh, wait, that's exactly what they did
oops
Keith, you should love the main stream media...they are biased, left wing leaning, and socialist...all housingpanic type stuff eh? CHEERS MATE. Are you developing a phony accent like Madonna?
On yahoo today:
Bankrate.com
Pop goes the market: Responding to the bubble
Wednesday March 1, 6:00 am ET
the nar is as bad as cnbc, all hype all the time.
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