By Jeff Reeves | MarketWatch
(Editor’s note: Opinion pieces are published for discussions purposes only.)
The permabears in the equity market get a lot of attention, and for good reason: They crave the spotlight, and use it to sell bad investment products.
If you want to get rich sowing fear in stocks with your bad advice, there are plenty of dupes out there ready to pay usurious fees for the privilege of your underperformance.
But for the life of me, I can’t understand why anyone would root against the housing market. The number of people who can financially benefit from a housing crash is incredibly small … so what do stubborn bears here have to gain?
Ever since the 2008 crash, we’ve been told the housing recovery is unsustainable — with contrarians claiming it isn’t a question of IF the bubble bursts … just WHEN.
” The for-sale housing market has clearly turned a corner and is picking up momentum. In the Metro Phoenix area, sales office traffic levels and home sales have hit 10+ year highs, and recent data suggest the majority of household formations are now homebuyers, not renters. The long, post-housing bubble slog is over for homebuilders; the focus is now on profitability, sustained growth and capturing the growing demand walking into sales offices”
~Jim Belfiore, real estate consultant
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