Nearly everyone who has bought residential real estate in the U.S. as “an investment” since 2005 can now call themselves contrapreneurs. The seasonally-adjusted Case-Schiller data for Q1 of 2012 shows that new lows have been reached in many markets. FWIW, I’ve been reading “The bottom is near”-themed articles since 2008, but I’m not holding my breath. In some markets, the majority of sales are either short sales or “bank owned” (foreclosed) properties. It may be another decade until the real bottom is reached.
Regular content contributor Pierre M. sent this: BIS warns global lending contracting at fastest pace since 2008 Lehman crisis
Diana V. spotted this piece by Jason Hommel over at SilverSeek: Silver Headed to $75-$125/oz. in 1-2 years
Marc Faber: ‘Massive Wealth Destruction’ Coming, Well-to-Do ‘May Lose 50%’. (Thanks to J. McC. for the link.)
C.D.V. flagged this: QE3 Likelihood Still ‘Pretty Good’: Jan Hatzius. JWR’s Comment: The likelihood of a one year pause in quantitative easing ? Think of it just like asking your neighborhood crack junkie to “take a year off” from doing drugs. Pay no attention to his promises…
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