And I wonder how long to their "Housing Meltdown" cover?
America's House Party
Record home prices are inflaming passions--and pocketbooks--as never before. Inside our raucous obsession with real estate
July 31, 2006
Doesn't this Time Magazine housing bubble cover seem like a million years ago?
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8 comments:
that Time article, as has been pointed out about 500 times before on this blog, was not bullish on real estate. The cover image made the point that the country as a whole was falling in love with real estate, and sounded a note of caution for that reason. It reported the huge runup in prices, quoted both housing bulls and bears, and left the distinct impression that the editors were skeptical. Note the headlines on the cover -- "Is it time to buy -- or sell? and "The case for renting."
The idea that Time pumped RE at the peak is well on its way to achieving the status of an urban myth, thanks to Keith's persistant efforts.
yeah, the image of a guy hugging his cash-machine house, and then this leadin, no, that's not bullish or the sign of a peak:
America's House Party
Record home prices are inflaming passions--and pocketbooks--as never before. Inside our raucous obsession with real estate
Time Magazine may not have been advocating the housing bubble but they were certainly reporting its existence. That is why this magazine cover has come to represent the housing bubble, it is a testament to the irrational exuberance of the day, even if the editor himself wasn’t buying the hype.
That cover signaled the peak.
What was the date?
may 2005
Nothing like a Big Fat House with a Suicide Loan to HANG onto in the Consumer/Real Estate Industry's... self Inflicted QUAGMIRE.
Keep Up with the Jones and Buy one NOW.
"Inside our raucous obsession with real estate" doesn't strike me as a bullish sentiment. Perhaps hinting at the reverse.
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