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This Rare Bear Who Called the Crash Warns Housing Is Too Hot Again

By Patrick following x   2018 Apr 10, 4:25pm 678 views   0 comments   watch   nsfw   quote     share    


https://www.bloomberg.com/news/articles/2018-01-22/housing-bears-hibernate-as-u-s-homebuilders-swagger-into-2018

Stack, 66, who manages $1.3 billion for people with a high net worth, predicted the housing crash in 2005, just before prices reached their peak. Now, from his perch in Whitefish, Montana, he says his “Housing Bubble Bellwether Barometer” of homebuilder and mortgage company stocks, which jumped 80 percent in the past year, once again is flashing red.

“It is 2005 all over again in terms of the valuation extreme, the psychological excess and the denial,” said Stack, whose fireproof files of newspaper articles on bear markets date back to 1929. “People don’t believe housing is in a bubble and don’t want to hear talk about prices being a little bit bubblish.”
1   WineHorror1   ignore (1)   2018 Apr 11, 6:34pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

I'm not so sure. I believe a large part of why housing prices are this high is because there is no home building going on. Ok, maybe not zero building but certainly not nearly enough.

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