Nearly everyone who has bought residential real estate in the U.S. as “an investment” since 2005 can now call themselves contrapreneurs [1]. The seasonally-adjusted Case-Schiller data for Q1 of 2012 shows that new lows have been reached in many markets [2]. FWIW, I’ve been reading “The bottom is near”-themed articles [3] since 2008 [4], but I’m not holding my breath. In some markets, the majority of sales are either short sales or “bank owned” (foreclosed) properties [5]. 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 [6]
Diana V. spotted this piece by Jason Hommel over at SilverSeek: Silver Headed to $75-$125/oz. in 1-2 years [7]
Marc Faber: ‘Massive Wealth Destruction’ Coming, Well-to-Do ‘May Lose 50%’ [8]. (Thanks to J. McC. for the link.)
C.D.V. flagged this: QE3 Likelihood Still ‘Pretty Good’: Jan Hatzius [9]. 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…
Items from The Economatrix:
Markets are Facing A Rerun of the Great Panic of 2008 [10]
Crashing The Operating System — Liquidity Crunch in Practice [11]
10 Things That We Can Learn About Shortages And Preparation From The Economic Collapse In Greece [12]