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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Giordano Bruno who wrote (237118)2/1/2010 9:24:40 AM
From: ChanceIsRead Replies (2) of 306849
 
>>>Rosenberg - This is not supposed to happen — record affordability and the FHA’s near 0% financing, how is it that new homes sales plunged 7.6% in December?<<<

Hmmmm. I wonder. Could it be???

American's have been taught that housing always goes up. Now we find that it doesn't. Have we started to do some analysis - to make some models. You know - identify all the variables going into the chowder and taking a guess at the behavior of each. Like ... for example ... maybe rates are important to house price - instead of just my monthly nut. Like ... ummm ... maybe when rates go up, my house price will go down. And God forbid. Maybe my house price will go down a lot more when rates go from the fantasy FHA 0% to say 3% then when they go from say 7% to 10%. You know ... convexity. I studied that it high school calculus. Only we didn't call it that, and it was a lot more straight forward then when the econ folks got hold of it.

The Econ types also switched axes on me. Liked to plot the independent variable on the ordinate instead of the abscissa - like the rest of the world. That used to drive me nuts. It was then that I started thinking that they didn't have much to offer and were just doing weird s*&t to act different and confuse people. Like Greenspan talk. If you confuse people, then it must be important and beyond their subhuman ability to comprehend.
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