For the third weekend, there is no weekly summary on The Big Picture blog. Is it safe to say Barry Ritholtz has discontinued it? I emailed him about it, told him that it was the one post every week that everyone in my group valued the most, but he has not responded. So what do you need to know except that on Thursday and Friday the market fully recovered all the losses from the previous Thursday and Friday.
The bonus this Sunday is this fascinating graphic about the condition of the housing market globally. The title is "The Folly of Global Housing?" Except that the real estate market took a big dive during the pandemic, housing has never been a bad deal, especially lately when the tables have been radically turned and as much as it was a buyers market last year at this time, it is now very much a sellers market.
Enjoy the graph. It shows that residential housing is the biggest asset class in trillions of dollars by far over any other. And that includes secured debt, the stock market, commercial real estate and ALL THE GOLD THAT'S EVER BEEN MINED which is way down at the bottom of the list, hardly a sliver on the graph. So it's a valid question -- The FOLLY of housing!?
The Folly of Global Housing?
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