The anonymous author of doctorhousingbubble.com has been warning about the collapse of the real estate bubble since 2006. He highlights the absurdity of the mania with his Real Homes of Genius examples of Southern California home price histories. He started by documenting the absurd price increases for tiny, unattractive properties, but now he chronicles their dizzying fall.
He backs up his anecdotal case histories with some very sobering macro-economic analysis. He has been consistently warning that the real estate crisis is just beginning, as billions of dollars of adjustable rate mortgages issued at the top of the boom reset to market rates. The worst is yet to come.
Apostrophe -- Bert Collins's Blog 