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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (29146)	3/22/2005 4:51:31 PM
From: kailuabruddah	Respond to of 110194

With apologies to McTeer: My term for what happened to the RE Bubble Markets as we were gliding in for the proverbial soft landing is that we hit an air pocket. Fortunately, we still have enough immigrants who still own less than 2 houses. If we all join hands and go buy a new house, everything will be all right. Preferably a Pulte - Bully you can buy a Toll. I can explain why the housing inventories soared and buying dried up. Wile E. Coyote looked down. You remember that the Road Runner always managed to stop just before going over the cliff. Wile couldn't stop. But he never fell until he looked down. Somebody looked down and saw all foam and no beer! Or maybe they saw Price-to-Income ratios above 10 and Price-to-Rent Ratios above 200. Looking down will pop a bubble. What I don't understand is why bubbles form in the first place—we're all so smart and all. Today, we realize that there must be some prospect for some profit, some time for a house to be worth an ever greater sum of money. Why do we realize that today, but not yesterday? See, I told you you should have bought more houses when the 5-Year Note was below 4.25%.