For some time now, I've been sounding alarms about housing prices and the implication for the economy as a whole. In the past few months, I've started to see more articles appearing that echo my concerns. Here is a great piece from the Economist for those of you looking to understand the core issues.
And another piece from The Washington Post about our "Pumped up Economy":
http://www.washingtonpost.com/wp-dyn/articles/A2617-2005Mar26.html
This article (or a similar counterpart) just aired on NPR. My wife and I own a modest house that we tried to sell, but couldn't, so now we rent it out. I hope that the housing prices in that area do not crash so hard as to cause us to end up owing more than the house is actually worth. Ugh.
Posted by: Tree | April 20, 2005 at 05:27 PM