Two excerpts, the first from:


In general, real estate markets are hot right now and I know I’ve never seen so  much building and activity in the San Diego area as I do today.  And if you  list a home in a desirable area you better be prepared for a bidding war.

We’ll see if that continues into the winter months.  It usually doesn’t,  but who knows.  As Robert Shiller knows, those animal spirits often get the  best of us.

But San Diego and the other California cities appear to be  outliers.  After all, the national index is still down 20% from its peak  after a 20% climb from the bottom in 2011.


The rich getting richer – an excerpt from:


The anger of the 99% will ultimately not  be bought off by yet another central bank inspired housing bubble, engineered to  pacify them and divert their attention as their real incomes fall and inequality  continues to grow.

The current bubble will burst, despite  the Fed postponing the event by climbing to ever higher diving boards. All the  time rising inequality is draining the swimming pool dry and the crunch when it  comes will be ugly.

“What society needs to grow in an economically optimal fashion is not  equality of outcomes, but equality of opportunity,” wrote Edwards.

“But with the grotesque distortions of income now prevailing, one’s lifetime opportunities are so increasingly dominated by what one’s parents income is that  the American dream has increasingly become just that a dream, and an  increasingly distant one at that.”

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