While the majority of "25 Random Things" posts on Facebook are trivial and annoying, Rick Aristotle Munarriz at The Motley Fool compiled a clever list called "25 Random Things About Mr. Market" which takes a few deserving blows at the housing industry, big builders and mortgage brokers. Case in point, item number 7.) "More to the point, I have a modest proposal. Eat the homebuilders. Why wag the demand tail when the supply head still doesn't get it? Force a moratorium on new construction that is not under contract for a year or two. The developers will hate it, but it's in their best long-term interest." He then adds, "We still have years of excess inventory to work through, created by failed condo flippers and leveraged owners of several vacant properties. Houses have become like Beanie Babies, with everybody dumping their collections at any price."
Wednesday, February 11, 2009
25 Random Things About Mr. Market
While the majority of "25 Random Things" posts on Facebook are trivial and annoying, Rick Aristotle Munarriz at The Motley Fool compiled a clever list called "25 Random Things About Mr. Market" which takes a few deserving blows at the housing industry, big builders and mortgage brokers. Case in point, item number 7.) "More to the point, I have a modest proposal. Eat the homebuilders. Why wag the demand tail when the supply head still doesn't get it? Force a moratorium on new construction that is not under contract for a year or two. The developers will hate it, but it's in their best long-term interest." He then adds, "We still have years of excess inventory to work through, created by failed condo flippers and leveraged owners of several vacant properties. Houses have become like Beanie Babies, with everybody dumping their collections at any price."
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