Saturday, August 26, 2006

I've been doing some fake news gathering

Housing Bubble Not Over

Washington D.C. – As the booming housing market of the last few years takes a downswing, National Association of Realtors, VP of Marketing Strategies, Mike Couven, says their new tact will be aiming at the third home market.
With affordable homes out of reach to nearly 90% of the population in some areas the NAR had to find new ways to keep the housing industry strong.
“Let’s face it,” Couven said, “Most of those that didn’t have one already bought their second homes in this last boom. We think going after the top 1% of earning households is the next logical step.” Not swayed by predictions of a market decline Couven is convinced the ‘third home’ is the new black.
The one two punch of keeping the price of houses artificially high – preventing the Have Nots from entering the current market – and adding more granite countertops, will make the acquisition of the third home more appealing to the Haves.
“The middle class is shrinking, there’s nothing we can do about that and there’s no money in affordable housing,” grins Couven, “So we are positioning housing as something unique, out of reach to most, something that makes them feel special like having a third Rolex or a third Mercedes Benz they never drive in their six car garage.”
Couven insists this is not a rental market he is trying to create but a totally unnecessary luxury market that will have a huge impact on the price of homes, particularly in desirable locations, such as locales where there remains a job market.
“We’re gonna keep gains in the double digits with this strategy. This could be huge, bigger than the last bubble.”

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