December 21, 2006

Daddy, what does a housing crash look like?


Well, it looks exactly like this son...

(hat-tip to paper money for the excellent chart - a picture is worth 1000 realtors they say)

14 comments:

Mozo Maz said...

It's just a momentary dip, before our new era of permenant prosperity returns. They aren't making any new land, ya know!!

Anonymous said...

Yeah, it might look bleak for us Bitter Renterss, but at least the people who bought a new house in the last 18 months are insured a permanently high plateau from which to start their high yearly appreciation!

yeah... sad for me... but at least their real estate related financial success is "in the bag!"

I wish I would have listed to DL. :-(

Anonymous said...

The pin-heads wil spin the data into a bullish outlook due to a reduction in future supply.

Bubble Shmubble said...

Keith,

Better watch out buddy, the market's burstin in London too.


UK Nov mortgage approvals highest ever for the month - BSA

LONDON (AFX) - The UK property market was robust in November with sturdy growth in new mortgages and mortgage approvals recorded, a leading industry group said today

The Building Societies' Association revealed today that the number of mortgage approvals, on a seasonally-adjusted basis, rose by 4.9 bln stg in November from 4.3 bln stg in October. The latest figure is the highest ever for any November

New mortgages, meanwhile rose by 1.3 bln stg in November, the highest in three years for the month. It was lower than the 1.8 bln stg seen in October, however


http://futures.fxstreet.com/Futures/
news/afx/singleNew.asp?
menu=economicnews&pv_
noticia=1166607919-18a80f08-14182

keith said...

London is out of control. Saudis, Russians and flippers

OUT OF CONTROL

And you all know how this ends of course. The only question is when

Meanwhile, outside of London, it's pretty bleak out there all over England.

Socialism ain't pretty

Anonymous said...

:it's pretty bleak out there all over England. Socialism ain't pretty.

Dude, England hasn't produced anything since the fall of the Empire (ala '71 Bahrain's independence) other than financial services. So, when a nation's little more than a clearinghouse for bankers and oil men, what else can one do other than provide a welfare state so that everyone can live like a hippy in Gastonbury?

Anonymous said...

and yet Keith advocates socialism for the US too in the form of higher taxes on the rich and regulation of financial markets

England still makes cool cars...Bentleys are great.I know the company is owned by VW but the cars are still made in England and still very "English"

Anonymous said...

Socialism is coming this way too via the Republicrats. Homeownership is a right. Healthcare is a right. Owning an iPod is a right. Having broadband is a right. A Grande Latte Frappucino in the morning is a right. Breaking the law is a right when you don't agree with it.

Anonymous said...

I believe both Bentleys and Lotuses are still made in England, however, I think a bulk of the UK's auto production is Ford/GM for the European markets.

And if NASDAQ ever gets its fingers into the London Stock Exchange (LSE), England might have even less autonomy than it does today in the realm of finance. The irony of the mother nation being bought out by its offspring.

Anonymous said...

Are we at the bottom yet??

stuckintheshity said...

England still makes cool cars...Bentleys are great.

Ya, all the Big "G"'s in Chicago got them.

Allen_Green$pan said...

Ahhh, that's just a little froth!

Anonymous said...

England's done, America's next.

Mammoth said...

Test 1