The Business & Media Institute observes in their article Housing Bubble, What Housing Bubble? CNN says Bernanke’s comments about orderly decline in home sales are ‘boring’ [Bus Med].
Instead of worrying about the burst of the “housing bubble” you might as well watch paint dry or your grass grow. CNN’s “American Morning” is no longer forecasting doom and gloom for the US housing market. On July 21 Gerri Willis declared the latest housing market news “kinda boring.”
Back in March 2006, CNN reported:
If you are worried about the housing bubble bursting, sell, sell, sell, it’s a sellers market.
Bernanke testified before the Senate Banking Committee [Reuters] last week and failed to use the phrase housing bubble. Rather, he said that the housing downturn appeared orderly [BW].
Bernanke forecast slower economic growth and an easing of inflation, which a government report this week showed rose for a sixth consecutive month. In his testimony, the chairman, 52, signaled he’s open to suspending the Fed’s two-year campaign to increase rates; minutes of the Fed’s June policy meeting released yesterday showed officials unsure of their next move.
It looks like the housing bubble discussion has moved to the back burner. If its not an exciting activity where records are being broken or tragedy strikes, then readership of real estate articles will likely diminish over the next year.
Tags: Ben Bernanke