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Huh ? Yes, check the dismal scientist site, prices did rise over 15% in
California last year. Over 40% in the San Jose area.
If that aint RAMPANT asset price inflation, I sure don't know what is.
Turn on CNBC and go back to sleep.
----- Original Message -----
From: "DH" <catapult@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, September 21, 2000 7:59 AM
Subject: [RT] Re: Oil inflation
> James Taylor writes:
> > Speaking of inflation, let's just keep ignoring the absolute rampant
asset
> > price inflation
> > we have seen over the last 15 years. Housing prices jumping 15-20%
per
> > year in the West Coast alone,
> > and the massive stock market bubble still defying gravity.
> >
> > Let the panic selling commence.
>
> James, comments like that are why most of us have a hard time taking
> you seriously. A good argument can be made that inflation is increasing
> and assets are overvalued. But when you exagerate and distort the facts
> people tend to dismiss anything of value you have to say. A quick check
> of
>
> http://www.dismal.com/cgi/forecasts.asp?View=Real+Estate&Frequency=Annual
>
> will show the annual increase in the median price of an existing home
> for the whole US measured in Q2. The source is the National Association
> of Realtors which has a vested interest to 'pump' the numbers rather
> understate them. The numbers are underwhelming by historical standards.
>
> 1998 5.4%
> 1999 3.9%
> 2000 3.3%
>
> I don't know how many times I have to repeat it but the Bay Area ain't
> the good old US of A. Some people might even question if it is part of
> Planet Earth but that's another story. :-)
>
> --
> Dennis
>
>
>
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