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« Test Your Economics IQ | Main | Reviewing the Media Pundits: Two Views of the Fed »

May 15, 2008



Venn -- You are correct. No one knows, which was the basis of our "which inning" article.

What I am trying to do is point out things we should be watching. The government actions are a patchwork, each with an effect. They bear watching.

Thanks to you and also to Ken for your helpful observations.



...or they could be buying into the teeth of another ten, twenty percent - or more - leg down.

It's pure speculation. No one knows.


I suspect you are right in saying that any federal action will likely help the housing market.

But in the end it will be the people who decide this is the right time to buy a home who will stabalize the market. It won't be long till many start to realize that opportunities like this come around but once in a lifetime. The unique homes in the best locations will get snatched up first. The drab tract home built in the remote exurb will remain a drag on the overall market for another couple of years. In the meantime the smart money is searching out deals in older and better located neighborhoods.

I am waiting to read the inevitable stories about the intrepid risktaker who buys a vintage home at a bargain price in a great area with plans to remodel. Instead of spending a two week vacation at a resort they will be spending that money at Home Depot instead.

This is a great time for risk taking youth and liquid cash. The opportunities for both abound.

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