Housing Bubble

Russian Oligarch Suffers 50% Loss On Singapore Real Estate Sale

A Russian national suffered a 52% loss on a recent purchase of a Singapore apartment, bought from the developer at $12.8 million or $3,146 psf in June 2010, and which was subsequently sold for $6.2 million or $1,524 psf by a private treaty.

"It's Just Crazy" (Again): 2-Bedroom LA House Sells 40% Above Asking

“It can’t be sustained,” said David Berson, chief economist at Nationwide Insurance and a former chief economist at mortgage giant Fannie Mae, referring to the frenzied buying. “It can’t go on forever.” For now, however, the second housing bubble in a decade is back front and center, courtesy of the Federal Reserve once again.

Economic Depression And Denial: "We Want To Believe We Aren't Japan"

"And so the longer it goes on, people seem to believe the greater the chance that something just has to go right. It is a happy a comforting thought, aided in emotional manipulation by the constant mainstream optimism. In that belief, every minor uptick is extrapolated far beyond its true significance as that thing that will surely restore positive balance and order."

Cheat Or Chump? - You Are Not An Investor

"You are not an investor. One can only be an investor in functioning markets. There have been no functioning markets since at least 2008, and probably much longer. That’s when central banks started purchasing financial assets, for real, which means that is also the point when price discovery died. And without price discovery no market can function."

The World's Worst Market-Timer

Whatever you do, make sure you keep in mind that the world’s worst market timer (the government) just cried “Uncle.” The proper trade is to assume they will make a mess. A big one.

David Stockman On The Anything President And The Everything Bubble

"The remaining bullishness and buy-the-dips robo-trading that temporarily sustained the dotcom bubble through March 2000 and the housing bubble through September 2008 will soon give way...  This century’s third great bubble’s days are numbered and in just a few digits."