Is Martha Stewart A Housing Bubble Superhero?

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Look! Up in the sky! Is it a bird? A plane? No, it's ... Martha?

There's a big story about KB Home CEO Bruce Karatz in Fortune Magazine focused on why Karatz has "launched a major building project in the wildly uncertain New Orleans real estate market." In the entire story there is but one reference to the housing bubble, which Karatz characterizes as being overblown.

He says he's hoping any losses in slow markets will be offset in part by KB Home's investment in Martha Stewart communities (see prior post).

Seriously.

From the story:

Karatz says concerns about a housing bubble are overblown, and he's hopeful that KB's new Martha Stewart communities, among other building projects, will offset cooling in Vegas and elsewhere.

— The Boy in the Big Housing Bubble