There has been a lot of the silver lining talk about housing metrics and our economic condition suggesting improvement and light at the end of the tunnel.
It’s amazing what you can do with fractions.
Check out this week’s podcast: Glass is 1/3 Full
You can subscribe in iTunes or simply listen to the podcast on my other blog The Housing Helix.
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Thanks for the review. Your last chapter featruing Buffet sort of summarized the pod cast.
“Something is going to change>”
Much of what you said correlates personal income with housing prices, which brings us to 2002 if I understood you correctly.
How does personal income bring the bank’s willingness to lend into account? Not withstanding the hype about appraisal and mortgage fraud and sub prime crises, my understanding now is that derivative creation and investment by the investment/commercial banks was the bubble that broke and triggered this slide and that renewal of the commercial loans are just now coming into view.
Sure makes it sound like the glass still has hole in it.