blasted

No Real Estate Bubble in Central U.S.

It is really a financing bubble. Sound underwriting was replaced by writing as much business as possible based on home prices increasing by 5% or so a year by people with no skin in the game. Also anything flies as long as Sam co-signs. Now it is anything flies as long as Uncle Sam co-signs and Sam sure has a lot of houses for sell. Next? Sam is the defacto owner of 25% of the residential real estate, the car companys, the banks and the insurance companies. Sam is in control. Nest eggs evaporated if they are in the market or real estate. New winners emerge and it isn't the investor class.