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fyi: For those who feel this one's gotten stale, Peter started a fresh thread, "Why", on the underlying causes of the Bubble.
One thing I like about this blog is the mutual respect among its participants. Anger solves nothing. Violence brings more problem. Curses will have no effect on the matter.
Jack, of course I understood your need to use that language. My previous post was directed mostly at Surfer-X. I am worried about him too. I hope that he made up the story about that two guys. It would be pretty bad otherwise.
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We may see the introduction of a serious hedging product for homes by the end of this year.
http://www.business2.com/b2/web/articles/0,17863,1026875-3,00.html
Investors will be able to buy a "Macro" to participate in the movement of home prices in a particular area. Effectively, homeowners will be able to hedge the value of their homes against a decline and speculators can also use a similar product to profit from price gains.
On the surface, the emergence of this hedging product will prevent a severe housing crash because homeowners can protect their losses without panic selling. However, prospective buyers can also protect themselves from being "priced-out", which eliminates the need for panic buying.
Peter P
Disclaimer: opinions expressed herein should not be construed as investment advice under any circumstance. Certain investment strategies can be risky and can lead to large losses.
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