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Why This Housing Bubble Is Different

Posted July 7, 2008

“First they had the housing boom. Then they had the foreclosure boom. And that, it seems, has lead to a boom in arson.” — John Stepek

Blogger’s note: John Stepek of UK’s MoneyWeek had some great insight on the housing bubble. He told readers of his free email Money Morning UK that, unlike the technology bubble of the 90s and the oil bubble right now, the housing bubble didn’t do any good for anyone. In fact, it’s only led to a sharp increase in house fires and a big waste of resources for the U.S. consumer. You can learn why here or read on below.

by John Stepek

Baltimore – (TFN): Britain is sinking ever deeper into the gloom.

Yesterday’s big piece of bad news was that service sector activity fell last month, in the worst showing for the sector since September 2001. As services account for about 70% of the economy, and manufacturing and construction are both in the doldrums too, it’s not hard to jump to the conclusion that the entire country is in deep trouble.

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But things could always be worse. Bloomberg reports on a rather worrying side effect of the housing slump that is now spreading across the States.

First they had the housing boom. Then they had the foreclosure boom. And that, it seems, has lead to a boom in arson… Read on to learn why.

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Posted by John Stepek · Filed Under Real Estate 

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