Stephen Vita just took Barron’s to task over their persistent “there’s a housing bubble” mantra. My favorite part:
Even if they are egregiously overvalued — I’m not accepting that premise but let’s go ahead with the argument — do you still refuse to trade them even if there is money to be made?
Ok, you’re right………but poor.
Both Barron’s and WSJ have really been going after the housing bubble lately. Here is the tagline for yet another WSJ article that appears today: “The hottest housing markets account for 35% of the total U.S. value, increasing the impact a price drop would have on the economy.”
And right below that headline is a follow-up supporting article: “Fannie Sees Higher Odds
Of Regional Housing Busts.” Now THAT might be something different when the government agency partly responsible for blowing up the bubble issues a warning.