Professor Elam

Here is an interesting article comparing High Tech and the Housing Bust.  I have made numerous posts about how the housing bust and those who that it would have a soft landing.  Such bubbles NEVER have a soft landing.  There is a good parallel in the article showing how Toll Brothers was much like Cisco in the last high tech bust, which frankly never has recovered, just look at Dell and Gateway or the reduced numbers of students majoring in IT at business schools.  The stock market is starting to sink now, consumer confidence is turning down, sub prime lenders are increasing loss reserves or going bankrupt, $300K condos in Miami go unsold, ‘investors’ that were oh so smart in real estate are now underwater, Alt A mortgage holders are facing reposssesion, can that R word (recession) be far round the corner?

Come on now I have posted this photo three times surely someone can ID this home….