Monday, April 30, 2012

Peak Housing, Peak Fraud, Peak Suburbia and Peak Property Taxes

The Daily Sheeple
by Charles Hugh Smith
April 26th, 2012

Peak Housing reflects not just a credit bubble but Peak Fraud and Peak Suburbia.
Once again pundits are claiming that housing is “finally recovering.” But they’re overlooking three peaks: Peak Housing, Peak Financial Fraud, and Peak Suburbia, all of which suggest years of stagnation and decline, not “recovery.”
Here is the latest Case-Shiller index, which has traced out a nearly textbook bubble and a return to the mean that has been artificially restrained by trillions of dollars of Federal subsidies and backstopping of the housing market:.........

.......... Only one aspect of housing hasn’t yet peaked: property taxes. If the risks of home ownership weren’t apparent before, they certainly are now as local governments jack up property taxes to indenture homeowners into tax donkeys.........................

Continue reading here:

No comments:

Post a Comment