Posted by Jonathan J. Miller -Wednesday, September 15, 2010, 9:10 PM
Today was the day the housing market changed immediately – what I characterize as the tipping point, in my theory of negative milestones for the housing market. In order to feel better about the day, let’s take a brief lesson in economics since that infamous date also marked the point where reality entered the housing market, no longer diffused by the vaseline covered lens of free credit conditions.
I posted this video a few years ago and implore matrix readers to watch it again. I was talking to a friend of mine yesterday who is also an economist and this video came up in the conversation – we recounted all the highlights in our mutual glee. Yoram Bauman is the world’s only stand-up economist: