Saturday, August 20, 2005

'More Damage' OR 'Steamy as Ever'?

MarketWatch reports that this housing market shows no signs of slowing at the national level. However, another MarketWatch story offers evidence to the contrary saying:
Even though many commentators suggest that the housing bubble will fizzle out rather than pop, our analysis says that the continued belief that "it may be a bubble, but it's a nice bubble" is another signal that the coming real estate debacle will do far more damage than most economists and investors are willing to imagine.
It's a great indication of the struggle for balance that news outlets are suffering right now. "Do we say it's a bubble, or don't we?" Nothing confuses readers more, but then, at least there's a retort when the accusations of "you got it wrong!" come flying at the Op/Ed page. Nobody wants to be as wrong as they all were about the Internet Bubble, so they not only present both sides, they actually end up arguing from both sides. The new mission sure seems to be: "Put quote marks around it and let the reader figure out what it means." "Far More Damage" OR "Steamy As Ever"

This exceprt from"Steamy As Ever":
In the past few weeks, some observers have pointed to some clues that the housing market may have topped, such as slower sales in hot markets like Las Vegas, San Diego and Washington.

Sales may have cooled in some regions, but the national picture looks as steamy as ever.