Professor Elam

Surely someone can identify who owns this home!  Hint she is deeply concerned about how YOU ALL are destroying the environment with your excess consumption of energy…..

Anyway, with the collapse in the home building market, now builders are announcing affordable homes.

Unable to sell property in the $350K plus range, the latest thing in Miami is the $159,000 condo.  Here is a clear example of how quickly markets can adjust to price demand.  Of course this does zilch for all the unsold $350K condos, I suspect a big sale if right round the corner. I have been talking about the housing decline for some time.  Now the stock market is getting weaker along with the housing market. Expect all of this to ramp up to a more serious sell off this summer.

Here’s another home in the news. Hint, he just won an Oscar for telling us an Inconvenient Truth.  The energy bill on this baby is about 20 x the aveage US home.