Monday, March 24, 2008

closing up shop

So long everyone. My work is done. It seems the recession is over, housing is on fire once again, and the good times are back. I guess George Bush really did know what he was doing after all. Sending hundreds of billions of taxpayer dollars to billionaires was a good idea after all.

Home sales went up in Feb (even though the median price dropped by the sharpest amount since 1999 and when comparing Feb '08 to Feb '07 the number of sales is down 20%). And so the great housing crash is over and 25% a year appreciation is back. Yeah baby!

And stocks are up because instead of Bear Sterns losing 95% of its value, it will only lose 75% of its value. Therefore the doom and gloom of last week has been replaced with unbridled euphoria. Makes sense to me.

So thanks for reading everyone, it's been fun. I'm off to borrow $800K to buy a $700K house and use the remaining $100K to buy KB Home stock on margin.

Ain't life grand?

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