Wednesday, January 19, 2005
CRY BUBBLE
Talked with friends about the housing dream the other day. I should properly call it the housing pipe dream.
On housing: Instapundit linked to a Wall Street Journal housing bubble article and Hugh Hewett picked up on it. I've been reading articles like this for a few years now. I'm not saying there won't ever be a bubble, I'm just saying I don't jump when someone cries wolf. And Mr. Hewitt doesn't think it applies to L.A. either
On housing: Instapundit linked to a Wall Street Journal housing bubble article and Hugh Hewett picked up on it. I've been reading articles like this for a few years now. I'm not saying there won't ever be a bubble, I'm just saying I don't jump when someone cries wolf. And Mr. Hewitt doesn't think it applies to L.A. either
... the article did not address the underlying housing shortage in places like California. Decades of slow-growth housing policies have created a widespread shortage in housing on the west coast, with the result that prices have shot up. While it is possible to remedy the shortage, and thus impact the pricing structure, there is zero evidence of that occurring.My problem is just getting in.
