[Rich Toscano]

Yes, while flattered to be included in the article I was quite shocked by that characterization of piggington. The articles I write primarily concern the economics of the housing bubble and its aftermath — they have nothing at all to do with either blaming realtors or celebrating peoples’ misfortunes.

Thanks very much for the supportive comments, nostradamus and others, they are greatly appreciated. Thanks also for being polite to the article’s author, as he seemed very nice and I’m sure this is just a misunderstanding.

Have a good weekend yall…

Rich

[Rich Toscano]

Yes, while flattered to be included in the article I was quite shocked by that characterization of piggington. The articles I write primarily concern the economics of the housing bubble and its aftermath — they have nothing at all to do with either blaming realtors or celebrating peoples’ misfortunes.

Thanks very much for the supportive comments, nostradamus and others, they are greatly appreciated. Thanks also for being polite to the article’s author, as he seemed very nice and I’m sure this is just a misunderstanding.

Have a good weekend yall…

Rich

[Rich Toscano]

Yes, while flattered to be included in the article I was quite shocked by that characterization of piggington. The articles I write primarily concern the economics of the housing bubble and its aftermath — they have nothing at all to do with either blaming realtors or celebrating peoples’ misfortunes.

Thanks very much for the supportive comments, nostradamus and others, they are greatly appreciated. Thanks also for being polite to the article’s author, as he seemed very nice and I’m sure this is just a misunderstanding.

Have a good weekend yall…

Rich

[Rich Toscano]

Yes, while flattered to be included in the article I was quite shocked by that characterization of piggington. The articles I write primarily concern the economics of the housing bubble and its aftermath — they have nothing at all to do with either blaming realtors or celebrating peoples’ misfortunes.

Thanks very much for the supportive comments, nostradamus and others, they are greatly appreciated. Thanks also for being polite to the article’s author, as he seemed very nice and I’m sure this is just a misunderstanding.

Have a good weekend yall…

Rich

[Rich Toscano]

A good excuse to trot out this collection of awesome analysis by old George:

Chamberlin Supplemental

Rich

[Rich Toscano]

A good excuse to trot out this collection of awesome analysis by old George:

Chamberlin Supplemental

Rich

[Rich Toscano]

A good excuse to trot out this collection of awesome analysis by old George:

Chamberlin Supplemental

Rich

[Rich Toscano]

A good excuse to trot out this collection of awesome analysis by old George:

Chamberlin Supplemental

Rich

[Rich Toscano]

A good excuse to trot out this collection of awesome analysis by old George:

Chamberlin Supplemental

Rich

[Rich Toscano]

I was going to write about some of the big flaws in this piece but CR beat me to it (as he always does).

I would just add a little local color. First, here in SD homes have absolutely not become affordable again. Even if you accept his wrong argument that rates are all that matter, note that rates aren’t terribly lower than they were in 2001-2. Prices (even inflation adjusted) are still much higher.

Second, this article:

This Just In: San Diego Homes are Overpriced

…has some data to support CR’s argument that price to income is a better valuation metric than price-to-monthly-payment, and that rates haven’t had much influence on valuations over the years.

Rich

PS – Great find HWG… I note that this guy’s fund owns a certain recently-defunct investment bank… since he obviously didn’t see the problems coming, why should we believe that he’ll know when it’s fixed?

[Rich Toscano]

I was going to write about some of the big flaws in this piece but CR beat me to it (as he always does).

I would just add a little local color. First, here in SD homes have absolutely not become affordable again. Even if you accept his wrong argument that rates are all that matter, note that rates aren’t terribly lower than they were in 2001-2. Prices (even inflation adjusted) are still much higher.

Second, this article:

This Just In: San Diego Homes are Overpriced

…has some data to support CR’s argument that price to income is a better valuation metric than price-to-monthly-payment, and that rates haven’t had much influence on valuations over the years.

Rich

PS – Great find HWG… I note that this guy’s fund owns a certain recently-defunct investment bank… since he obviously didn’t see the problems coming, why should we believe that he’ll know when it’s fixed?

[Rich Toscano]

I was going to write about some of the big flaws in this piece but CR beat me to it (as he always does).

I would just add a little local color. First, here in SD homes have absolutely not become affordable again. Even if you accept his wrong argument that rates are all that matter, note that rates aren’t terribly lower than they were in 2001-2. Prices (even inflation adjusted) are still much higher.

Second, this article:

This Just In: San Diego Homes are Overpriced

…has some data to support CR’s argument that price to income is a better valuation metric than price-to-monthly-payment, and that rates haven’t had much influence on valuations over the years.

Rich

PS – Great find HWG… I note that this guy’s fund owns a certain recently-defunct investment bank… since he obviously didn’t see the problems coming, why should we believe that he’ll know when it’s fixed?

[Rich Toscano]

I was going to write about some of the big flaws in this piece but CR beat me to it (as he always does).

I would just add a little local color. First, here in SD homes have absolutely not become affordable again. Even if you accept his wrong argument that rates are all that matter, note that rates aren’t terribly lower than they were in 2001-2. Prices (even inflation adjusted) are still much higher.

Second, this article:

This Just In: San Diego Homes are Overpriced

…has some data to support CR’s argument that price to income is a better valuation metric than price-to-monthly-payment, and that rates haven’t had much influence on valuations over the years.

Rich

PS – Great find HWG… I note that this guy’s fund owns a certain recently-defunct investment bank… since he obviously didn’t see the problems coming, why should we believe that he’ll know when it’s fixed?

[Rich Toscano]

I was going to write about some of the big flaws in this piece but CR beat me to it (as he always does).

I would just add a little local color. First, here in SD homes have absolutely not become affordable again. Even if you accept his wrong argument that rates are all that matter, note that rates aren’t terribly lower than they were in 2001-2. Prices (even inflation adjusted) are still much higher.

Second, this article:

This Just In: San Diego Homes are Overpriced

…has some data to support CR’s argument that price to income is a better valuation metric than price-to-monthly-payment, and that rates haven’t had much influence on valuations over the years.

Rich

PS – Great find HWG… I note that this guy’s fund owns a certain recently-defunct investment bank… since he obviously didn’t see the problems coming, why should we believe that he’ll know when it’s fixed?

[Rich Toscano]

Ah, gdcox, you give us Colonials too much credit. No, you’d like to think that Americans learned from the dot-bomb bubble only a few years prior (or that San Diegans had learned from their housing bust 10 years prior to that) but that’s not how it happened.

The vast majority of the hordes of people offering up the new paradigm arguments for real estate were American citizens. Memories appear to be very short here in the states when it comes to get rich quick schemes.

Rich

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