I was listening to CNBC a few minutes ago, and heard the pundits (several) say that the declining wealth effect of the bust in housing is being offset by rising stock prices. WHAAATTT! The average person is leveraged at least 4:1 or 5:1 in housing, which makes every 1 percent drop in housing equivalent to whole lot more in actual wealth lost. Further more, much more wealth is held in real estate than the stock market, at least by the average family. The list can go on. Why do those smart pundits say such things.
Informative Blogs
- Mish's Global Economic Trend Analysis
- The Big Picture
- NakedShorts
- Metrics 2.0 : Data-Driven Business & Market Intelligence
- Wall Street Journal
- The Hedge Fund Implode-O-Meter - tracking the hedge fund implosion - leverage, speculation, arbitrage, interest rates, credit bubble
- The Mortgage Lender Implode-O-Meter - tracking the housing finance breakdown, related to Alt-A and subprime mortgages, lending fraud, predatory lending, housing bubble, mortgage banking, foreclosures, debt, consolidation, lawyers, class-action lawsuits
- Institutional Economics: ‘Light Reading It’s Not’ - Forbes
- Information Arbitrage
- The Real Deal - The Real Deal Weekly Interview
The Big Picture
RGE Monitor : Nouriel Roubini Blog
Credit Bubble Stocks
Calculated Risk
FT Alphaville
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October 02, 2007
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Just stating the obvious:
The only place for accurate information is the blog-o-sphere.
Also, watch what companies do, not what CNBC says. Builders and mortgage outfits are laying off staff big time. All of my contacts in all parts of the country tell me that Realtor Open Houses have no traffic - Zero.
Posted by: Chuck | October 03, 2007 at 08:28 AM
What boggle my mind is not so much that CNBC spews BS, after all, that is their job - to be a financial media tabloid on TV. I am amazed by how many people really seem to go along with some of the absolute nonsense that the so-called experts espouse.
Posted by: Reggie | October 03, 2007 at 08:47 AM
Further more, much more wealth is held in real estate than the stock market, at least by the average family. The list can go on. Why do those smart pundits say such things.
Posted by: newport coast homes for sale | July 20, 2011 at 07:03 PM