Does anyone care about the housing? not me.
Boo hoo hoo we’re in a housing bubble. Boo hoo hoo hoo new home sales fall by a record amount. Do I care? Um no..I could care less. No one cares about hsouing except the usual boo hoo hoo-ers -the same group that claim we’re in a recession, oppose free trade and globaliztion, assume web 2.0 is a bubble, and profess that housing ‘decline’ is a big deal when it really isn’t. These are the same people who loath Romney and Hillary Clinton but love Kusinish, Edwards, Ron Paul and Obama.
The truth of the matter is no one cares about falling home sales or declining home prices, especially not me or the giant funds and institutions that move wallstreet.
This morning housing data was released showing that home sales plunged by a record amount in 2007, and that home prices fell by the most since 1991. Wallstreet reacted to this news by knocking the DJIA down a few dozen points, but within a half hour the markets recovereed all the loss, and were back in positive territory. As of 11:30 AM pacific time the markets are up one percent, actually.
What does this show? That wallstreet doesn’t care about hsouing. Why? Cause it isn’t a big deal. Boo hoo hoo your house lost value. Too ****ing bad. Boo hoo hoo I can’t sell me house. no one gives a ****. Wallstreet doesn’t and neither do the fund managers or the politicians. I don’t care and neither does Hillary or Obama.
The liberal pro Obama media and pro Ron Paul libertarian blogs try to mislead gullible people into believing that somehow housing market is in dire condition and that we’re on the precipice of economic turmoil. True, housing prices are falling in some areas and some people are unable to sell their houses even at substancially discounted prices, but in other areas such as the Bay Area, Aspen, and New York housing prices continue to surge and the demand is overwhelming.
Housing is just a fraction of the overall economy. We got huuuge global growth and economic development. Massive consumer spending and credit card debt. We have a web 2.0 revolution in the Silicon Valley; a new technology and internet boom. The borders will be opened, jobs will be outsourced and insourced, and Romney will be our next president. Tuition fees will only go up, the dollar will fall further, gas prices will continue rise, as will food prices. Buy EWZ stock instead of complaining about the immaginary housing bubble or the media generated ‘recession’.