Housing Bubble 2.0

[Capt Worley PE]

"What we are witnessing in many countries looks like a slow-motion replay of the last housing-market train wreck. And, like last time, the bigger the bubbles become, the nastier the collision with reality will be."

http://www.dailykos.com/story/2013/12/03/1259742/-Housing-Bubble-2-0-This-time-it-really-is-different

Lots o' charts.

 

[Road Guy]

can someone paraphrase that for me?

Housing prices are going way up in most places, but they also started building like crazy, im curious how much of those homes will actually sell out?

everythign around us was bought at high $200's and sold last spring in the high $350's to $400's.. Im not going to get on the wrong side of that curve....

 

[blybrook PE]

I wish mine would sell!!!

Taking it off the market till spring thaw.

 

[Capt Worley PE]

can someone paraphrase that for me?

I think the gist is rich people parking money in real estate that has no hope of sellin. I also heard banks are sitting on a lot of homes....something like 12 million homes are vacant, but that sounded really high to me. I'll see if I can dig it up, but it was probably some "Odumbo is the mooslim antichrist' type site.