Just when we thought we had read the ultimate in bubble prognostications (Henry Fucking Blodget!), we woke up this dark and dreary morning to find our friend the bubble on the front page of the paper of record ? again. Seems that home prices have risen 15.1% over the last year, the biggest 12-month jump since 1980, and now the price of the median American home is $206,000 (which, incidentally, is the median price for a sleeping alcove on Christopher St.). Meanwhile, rents are stable, inflation is under control, and nobody can really find a good reason ? beyond mortgage rates ? rrrayi?µ8??\agfk[BZ adgpaerk'j6u ! Ooh, we seem to have hit our head on the keyboard.
Let's get to the point: Enough! Burst! Do it! Just get it over with, so we don't have to read one more fucking piece with a quote from some realtor from Pensacola who says he's never seen prices so darn high. Burst. Burst. Burst. It'll be gooey and messy and delicious and we'll all wake up in the morning feeling much better.
· Steep Rise in Prices for Homes Adds to Worry About a Bubble [NY Times]
· BubbleWatch: Take This Bubble and Shove It [Curbed]
· BubbleWatch: Buy Yahoo! Sell Tribeca! Or Not! [Curbed]