Housing Bubble?

Wolf Richter: Dear Fed, It’s Not “Really Hard to Spot Bubbles” | naked capitalism:

Maybe.. but in the last bubble the housing market in my area, eastern Indiana Teabagistan, was crazy. Anyone could get any kind of loan, lots of people were talking about buying and flipping for a profit, housing never goes down, you can't lose, etc. five acre lots with a double-wides going for 150,000+ , etc. it was crazy.

It's nothing like that now.

Slow sales, empty houses everywhere, boarded up, burned out, un-mowed yards, blue-plastic roofs, confederate flag curtains. Hell, there's a country song in there somewhere. Anyway,.... there may be a housing bubble in some places but it hasn't hit our area like it did the last time.

I ain't buying the housing bubble story just yet.

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