We don’t usually update the site on weekends, but we have a feeling that tonight’s cocktail parties might be all atwitter over today’s New York Times bubble article, and we want to make sure our readers can intelligently participate in the conversations. Two dueling excerpts:
On Tuesday, David A. Lereah, the chief economist at the National Association of Realtors, said that the housing market was “probably close to a peak right now.”
John Karevoll, an analyst with DataQuick Information Systems, which provides real estate data to lenders, said: “We’ve been told for years that the peak is just around the corner. The economists have so much egg on their faces.”
· Do Try This at Home: Assess Your Area’s Real Estate Bubble [NYT]