iTulip Comes Roaring Back to Skewer the Housing Bubble

Back in the dot-com era, iTulip.com found parallels between the Netherlands 1600s tulip craze and the late-90s/pre-9/11 internet bubble. They’ve relaunched to comment on the housing bubble:

In the past the Fed has been very quick to stop speculation in real estate, much more quickly than stock market speculation. Why? Real estate involves the banking system much more than does the stock market and looking after the banking system is Job One for the Fed. Letting millions of homeowners buy real estate they can’t afford with mortgages they can never pay back is a surefire road to mass defaults that can cripple the banking system.

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Gay Hoosier Taurus INFJ ex-playwright pianist gymbunny published author in San Francisco. Tw · Fb

2 thoughts on “iTulip Comes Roaring Back to Skewer the Housing Bubble

  1. JB

    Well, you can just do what our government does and lie continuously about how prices *aren’t* falling and that demand is still there and that the future has never looked rosier and that unemployment isn’t soaring and that houses are affordable and that it’s different this time and that it’s a new paradigm etc. etc. etc.

    You’d be amazed how many people happily swallow the fiddled figures here.

  2. San Diego dentist

    Here in San Diego, the real estate market hit its peek in the Summer of 2005. The ‘insiders’ are expecting a 30% drop.

    I find it hard to buy into the industry line that this is just a slowdown or that any major markets will buck the trend.

    It’s all wishfull tinking and salesmanship!

    For some ‘real would’ current real estate trends, at least as far as San Diego goes, I would recommend you view:
    http://www.brokerforyou.com/blogger/index.html

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