Friday, May 27, 2005

Running Out of Bubbles - New York Times

Running Out of Bubbles - New York Times:
"But these aren't tiny regions; they're big and wealthy, so that the national housing market as a whole looks pretty bubbly. Many home purchases are speculative; the National Association of Realtors estimates that 23 percent of the homes sold last year were bought for investment, not to live in. According to Business Week, 31 percent of new mortgages are interest only, a sign that people are stretching to their financial limits. "

You know I'm not a big believer in sin,
but if I was I'd be pretty sure that buying a home for investment
would be one...
at least while there are homeless folks...

So I say bring on the bubble bursting...

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