Remember this magazine cover?
The Economist Magazine, June 18, 2005
Back in June when it appeared, we decided the concept of "House Prices: After the Fall" might be a bit presumptuous. After all, when was the last time you read about a timely investment or trading idea in a magazine cover story?
Of course, this is not because magazine writers and editors are not very smart people. Many are. It's simply due to the way the editorial process works. News, almost by definition, is popular when it reflects consensus opinion, and unpopular when it fades consensus opinion. It is not a negative reflection on the editorial standards of a magazine when it runs cover stories that coincide with the culmination of specific positive or negative financial events. Rather, it's a positive reflection on their ability to discern the most wide-ranging interests of their target markets.
Since the magazine cover appeared last June, talk of a housing bubble has not disappeared, but it has shifted a bit. I wrote last June, "I have no doubt that housing will again grace the covers of newspapers and magazines before this is all over, but I expect the headlines to be far different than the negative take via the Economist. Maybe something along the lines of this:
“Housing: The market that can’t be stopped,” or,“Real Estate: The Bubble Who Cried Wolf," or, "Housing Resilience Astounds Economists!""
Well, looks like that time has finally arrived. Sunday morning, as I was catching up on news from my hometown, I came across this headline in the Lexington, KY Herald Leader newspaper:
Housing bubble not ready to pop
Newsday, NY - 3 hours ago
Despite widespread fears of a housing bubble ready to burst and prices ready to plummet, a Newsday analysis of 25 years of Long Island sales data finds little ...
There is no housing bubble, says senior economist
Virginian Pilot, VA - Jan 18, 2006
... "Everybody is looking for evidence of a housing bubble," he said. "There is not a housing bubble. The supply had not kept up with demand.". ...
Housing Bubble or Slow Deceleration of Housing Market?
MortgageNewsDaily.com, AZ - Jan 19, 2006
... Office of the Chief Economist took on the doomsayers in its January 2006 Economic Outlook released late last week and concluded that the housing bubble is not ...
|Housing market sets future of golf courses
Myrtle Beach Sun News, SC - 12 hours ago
|Real estate keeps truckin'
Cincinnati Enquirer, OH - 9 hours ago
Analysts have been nervously writing year-end epitaphs for real estate for the last couple years, but the sector has kept outperforming the overall market. ...
Real estate funds looking good Myrtle Beach Sun News
|Plum poised for housing growth
Pittsburgh Tribune-Review, PA - 19 hours ago
Greg Bachy, borough planning director, updated council's economic development committee this week on those developments. Of the ...
Study Finds "Very Dramatic" Improvement in Phoenix Housing in Last ...
Cashing in on the real estate boom
Booming Scottsdale real estate scene spurs choice for home buyers
Money matters: Using your IRA to buy real estate can be tricky
|Local real estate market looks good
Enid News & Eagle, OK - 12 hours ago
By Robert Barron, Staff Writer. Although there are fewer houses than normal on the market locally, the next few years are looking good in Enid. ...
|The Kalamazoo Promise is Promising for Real Estate
WZZM, MI - Jan 20, 2006
... Real Estate Agent Gayle Zientek says, "The Kalamazoo Promise just came around at the right time for us." She raised her three children in a home on Douglas ...
|Commercial real estate is sizzling
Orlando Sentinel, FL - Jan 21, 2006
Florida's housing markets may finally be cooling, but investor interest in commercial properties remains strong, a broker said Friday during a forecast meeting ...
Tech won't hurt office space, expert says Tampa Bay Business Journal
Real estate business resounds
Real Estate: Buy, sell, hold?