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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: stockman_scott who wrote (4732)8/28/2002 12:14:31 PM
From: MSIRead Replies (1) of 306849
 
I get two things out of that article

1) The housing boom is infused by the high carnival-type expectations of the stock boom.

2) The Fed "has not learned its lesson"

#1 sounds right, even though inflated expectations occur in every housing boom, the legacy of the NASDAQ I'm sure has added much speculative fuel. But added to that are actual dollars pulled from stock portfolios, as evidenced by the high down payments in many areas, contrary to the "zero down" stories.

#2 I What would the Fed do at this point? It seems steady low interest rates until recovery is really in sight is the right thing to do. Maybe an "irrational exhuberence in housing" comment is what the author is suggesting.

The problem there is that the Fed is obviously just another unelected highly politicized bureau run by and for the banks, so what they say after the results of the last few years is, to say the least, suspect.
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