AND ON AND ON AND ON

[jonathangarrett]

Throughout this entire housing bubble bust, I have repeatedly said that whenever you read or see a news report on the housing market, you should always insert the phrase "except in San Francisco" after the first sentence. For example

Comments

[jdquintette]

This would seem to be another indication that all the yammering about the inherent "wisdom of the marketplace" is total hooey. A median price of $715,000 for houses sitting on earthquake faults is deeply irrational.