Misters Case and Shiller, Call Your Office!

I am a proud contrarian, but even I was a little concerned with my latest venture into the real estate market. The day after I buy a condo, the WSJ has a cover story about gluts and prices spiraling down.

Then, of course, I get to sell my house when every day features a dark headline about housing.

But let the record show that Don Luskin and Larry Kudlow are right. The housing bears are focused on the East Coast and other markets that have boomed: Las Vegas, Florida, San Diego. The bulk of the country, including Lafayette Colorado, has not cratered. I accepted an offer this morning, selling my house nine days after it was listed at better than 95% of the asking price.

And I plan to spend my government stimulus check on candy.

UPDATE: I'd just like to confer a "stand-up guy" award to Don Luskin. I sent this to him and received a nice note back -- on Saturday evening. It occurred to me that he has responded to every email I've ever sent him. He certainly doesn't know me, nor has he any financial gain from our association (ThreeSources friend Perry knows him). Yet he has always taken the time to acknowledge every email. That's a rare trait these days. ("Dear Sir, Thank you, I have no need for 'C@nad!an discu0nt C!@lIs' at this time, thank you for your inquiry...")

Economics and Markets Posted by jk at April 26, 2008 12:16 PM