So yesterday’s front page news was that the housing market isn’t going to start dropping any time soon.<\/p>\n
One had to read just a little further to find that the source of that bold headline was– surprise!– a Realtor.<\/p>\n
What the spice else<\/strong> is a Realtor going to say? “Yeah, people will be losing their shorts soon. I sold everything I<\/strong> own two months ago.”<\/p>\n Actually, I would believe the original premise, except I think there are a tremendous number of people who have recently bought real estate strictly<\/strong> as an investment. They have no real intent to ever live in those homes. But the numbers that drive new home construction, tax revenue projections, urban planning, mortgage rates, and a number of other important factors– these numbers don’t take the investors into account. <\/p>\n To the outside world, the investors are new residents.<\/p>\n Those ghost residents, the investors, are the air inside the bubble. It’s not going to burst, though you’ll hear that inappropriate analogy a lot on the news. But it’s going to deflate, and deflate rapidly, the first time the investors get nervous. And a lot of them will<\/strong> lose their shorts. It’s the dot-com travesty all over again, where people who didn’t know a router from a radish were shoveling their savings into hideously dangerous tech stocks without a backwards thought.<\/p>\n By the way, buried on today’s<\/strong> financial page, was a much smaller article noting that the housing market is cooling.<\/p>\n","protected":false},"excerpt":{"rendered":" So yesterday’s front page news was that the housing market isn’t going to start dropping any time soon. One had to read just a little further to find that the source of that bold headline was– surprise!– a Realtor. What the spice else is a Realtor going to say? “Yeah, people will be losing their […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,7],"tags":[],"class_list":["post-14","post","type-post","status-publish","format-standard","hentry","category-best","category-ramblings"],"_links":{"self":[{"href":"https:\/\/lucas-photo.com\/blog\/wp-json\/wp\/v2\/posts\/14","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lucas-photo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lucas-photo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lucas-photo.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lucas-photo.com\/blog\/wp-json\/wp\/v2\/comments?post=14"}],"version-history":[{"count":0,"href":"https:\/\/lucas-photo.com\/blog\/wp-json\/wp\/v2\/posts\/14\/revisions"}],"wp:attachment":[{"href":"https:\/\/lucas-photo.com\/blog\/wp-json\/wp\/v2\/media?parent=14"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lucas-photo.com\/blog\/wp-json\/wp\/v2\/categories?post=14"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lucas-photo.com\/blog\/wp-json\/wp\/v2\/tags?post=14"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}