Real Estate: The New Obscenity?
The lead article in the real estate section of The New York Times this weekend attempts to make the case that real estate has gone from Topic No. 1 to Topic Non Grata in the last six months. Nobody wants to talk about it,” The Times quotes one hedge fund manager as saying. We’re not…
The lead article in the real estate section of The New York Times this weekend attempts to make the case that real estate has gone from Topic No. 1 to Topic Non Grata in the last six months. Nobody wants to talk about it,” The Times quotes one hedge fund manager as saying. We’re not so sure that’s the case. People may be acting more discreetly when they bring it up, but, in our experience, it’s still just as much on everyone’s minds as before, although now, instead of being obsesses with how much the value of their house has gone up, it’s all about how far the value has fallen. Have you noticed a decrease in the amount people are talking about real estate or just a different tone?
Don’t Even Say the Words [NY Times]
Photo by solupine
Everyone should calm down about the questionable blog post. After all, White House spokesman Robert Gibbs said said “Early in May you will see in a systematic and coordinated way the transparency of determining and showing to all involved some of the results of these stress tests.”
🙂
the “error retrieving story” message is likely due to the external linking of the story and it being blocked by webwasher.
I agree that the source should always has to be considered when taking a view on the veracity of information but you also have to ask yourself whether you would be particularly surprised if the story turns out to be true?
To answer the original posts question… I’m finding that people are hesitant to talk about it, but not because of the reason you would assume (things bad etc.). Rather, I’ve talked to many people in the last few weeks who have had GOOD experiences (found great deal on house, got tenants for more than last year, refinanced into better rate, can finally afford to buy etc.) and it seems they are worried they might rub it in someone’s nose who isn’t having a positive experience if they talk about it. Whenever I ask or mention a good experience of mine it is like I let air out of a balloon- the relief is palpable that they are “allowed” to tell their good story.
For those of you who don’t know Hal Turner…
http://en.wikipedia.org/wiki/Hal_Turner
Back to Mr. B’s original question:
My brick and mortar friends do not talk RE the way we used to, but it is not due to changes in RE values. We talked about it incessantly when we were all looking and buying — first co-ops and then houses. Then that shifted into complaints about our contractors. And, of course, we alwasy talk about our kids. Sure, in the bubble, there was the occasional “can you believe what that house on __ street sold for?” which, of course, doesn’t happen now. But really, it is the changes in our lives, not RE, that has changed our conversations. We do talk more about people we know who have been hurt in the recession and how they are doing. And we talk about other mundane topic — politics, the arts, our lives, goings on in the community, etc. Oh, and of course, we talk about cats.
Its no longer available on Bloomberg. This is most likely a hoax.
interesting take on it from the Zero Hedge blog and I’ve gotta agree.
“You lose your credibility when you use sources like Hal Turner who, among other nonsense, espouses the killing of all Jews.”
http://tinyurl.com/c8amub
Indeed. When you hear the sky is falling always remember just who is telling you the sky is falling.
it’s currently the 3rd most read Bloomberg story of the last hour, despite it returning an “error retrieving story” message.
haha – the tagline to the blog is “Free Speech; no matter who doesn’t like it.”