Sunday, August 03, 2008

Sunday morning reading

For Sunday morning reading, here's a good article from the NYT by Peter L. Bernstein. It's titled "Three Strikes Against Consumers" and discusses the housing/credit crunch, high oil prices, and high food prices. I'm happy to see a journalist from a major news outlet discussing food prices as the issue seems to have been given short shrift elsewhere.
Today's L.A. Times' Business section has an article about whether or not it's a good time to buy real estate. It's by Peter Hong.
Why am I not including a link to this? Because it's way too statistical. The figures it cites just don't jive with my boots-on-the-ground experience of the markets I serve. Nobody disputes that local housing prices have come down. But the article's blanket assertion that the county has come down 30% is just not true for all -- or even most -- zipcodes, and I think the numbers in the article really need to be better qualified. Or perhaps I should just title this post, "I don't care what John Carroll of Dataquick says."

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