Inquiring minds are on Pasadena where our good friend, Dr. Housing Bubble takes a look at the local housing market:
Southern California housing is entering a special kind of rehab and not the kind seen on HGTV. There is still this lingering nostalgia from many that I have spoken to that somehow we are only a few months away from entering another glorious housing bull (bubble) market. Some are pointing to the almighty Federal Reserve and their manufactured attempt at Quantitative Easing. People forget that the Fed has already embarked on this and look how well that Midas touch turned out. What many fail to understand is that without real income growth there is little point in juicing up the banking market yet again. All this will do is prolong the misery and put the U.S. dollar at risk for further weakness which long-term is probably more distressing. Yet everything is different in the sunshine state and math doesn’t apply in Hollywood right? Well let us look at a few examples in Pasadena and see what is going on in the trenches.
Please go to the article and read the examples to see for yourself what is happening.
It will be very interesting over the next four years to see how our new ‘old’ governor and his cronies ‘fix’ the state’s economy.
Filed under: Uncategorized |