Remember how many people kept predicting that we had “hit the bottom” during the recent housing market collapse — only to see the market hit a new low a month later? The bogus predictions literally went on for years, even becoming a running joke.
Of course, some of the forecasters were eventually proved right, like a stopped clock being right twice a day, as the market seemed to have finally hit bottom some time last year.
But now some forecasters are seeing — yes! — a “housing bubble” in current stats.
You read it here first: The first official sighting of a “housing bubble” warning, sort of like a bird watcher spotting a rare yellow bellied eremomela high up on a mountain peak. It’s so exciting!
File under: Yellow bellied eremomelas
Update: Housing prices rose last month across the US. So it’s true! It’s a housing bubble!
Update II: It’s a Tulip Bubble!