July 30, 2007

HP's "Housing Bubble Moments of Brilliance". Here's MSN's "there is no housing bubble" Jim Jubak in 2005


From a million years ago (2005), and a simpler time and a simpler place, when sheeple actually formed lines outside of new housing developments. Here's MSN "financial guru" Jim Jubak, with a really bad call...

Why there is no housing bubble

The sky is not falling. Yes, home prices are sky-high, but we really don't have a housing bubble that is anywhere near bursting. Here's why.

Housing bubble? What housing bubble?

With the 10-year U.S. Treasury bond yielding below 4% and 30-year mortgages available at 5.1%, there isn't a housing bubble

It's just that those who are predicting a housing bubble and its bursting may have much longer to wait than they expect right now.

13 comments:

Anonymous said...

Speaking of which, Kendra Todd made an interview appearance recently and acknowledged "sellers have to be more realistic and lower their prices." So nice of her to overlook her previous comments.

Anonymous said...

C'mon, Keith!

When's the "We have a warp core breach!" pic/post from Star Trek coming?

This pic is more "Planet of the Apesish"... we have too many surgically enhanced women these days to make that fly.

Mark in San Diego said...

A very well written logical argument for no housing bubble. . . the only problem was he was looking at the wrong set of data - fixed rates, while most mortgages written in bubble areas were ARMS with low teaser rates, and 100% financing. . .I am sure the people who actually put down 10 to 20% in 2005 with a 5.5% 30 year fixed are having no problems. . .but tell that to the millions losing their homes because they took Greenspan's advice and took an ARM. . .As always - the MSM asks the wrong questions. . .as in, why didn't some analyst at the CFC conference call ask Mozillo, "what did you know and when did you know it?"

TM said...

Jubak was wrong, but that's not the same thing as being stupid or a shill. As Mark in San Diego noted, Jubak failed to adequately factor in just how sick the debt market is.

This is a good example of when smart people make bad calls. This kind of analysis is also more scary to me than the typical NAR-type crapola.

Anonymous said...

So Jubak is saying that prices don't matter as long as rates are low? Prices can't fall if rates are low? Look at Japan.

What kind of retarded logic is that?

Anonymous said...

what a funny name Jubank...get it, Jew Bank, ha ha ha for the white power types- ie 90% of HP- you guys must love it

Anonymous said...

agree with mark in sd, good analysis using sound logic. has everything you predicted turned out right Keith? If I recall prediced a stock market crash would occur in 2006. If I also recall you predicted dow under 10,000 back in March. Jubank is not in the same bucket as Yun or Lereah, wish you would be smart enough to see the difference.

baddriver said...

Is it just me or is Jim Jubak's explanation a complete non-sequitor?

Anonymous said...

...but tell that to the millions losing their homes because they took Greenspan's advice and took an ARM...

Greenspan should have been fired on the spot for that statement. The POS has always been just a shill for Wall Street.

Anonymous said...

"Here's why." - Because I have investments I need to unload first and I need some greater fools.

Anonymous said...

This was written in 2005....When many people kept predicting over & over..."This is it"

Remember the predictions of Dow 8,000 on this board Keith?

How about the predicted market crash last Oct??

How about the predicted brutal holiday retail season in 2006??

Here is what Jubak said in "2005"
***It's just that those who are predicting a housing bubble and its bursting may have much longer to wait than they expect right now.****

I don't know...seems like he wasn't that far off unlike some of the "economists" on this board,

Anonymous said...

Jubak is an idiot. Pick any issue and you'll know what Jubak will have to say about it before he opens his mouth.

SHAKSTER said...

Ahhh poo poo MSM.....Did MSM poopy pants?
Ahhh MSM didn't know about bubby bubble?Ahhhhhh There There.
MSM to dumb to know?Ahhh poor MSM.
MSM need a hanky?
DADDIES HOME!!! MSM ! GET TO YOUR ROOM ,SHUT UP,and be DAMN GREATFUL that YOU'RE NOT DEAD .....YET!