Today’s Housing Bubble Post

Through Calculated Risk, Empty houses, falling prices: A boom dies,

The Alonsos’ story is about just one family in one property development, singling out one homebuilder and one abusive financial scheme. There are undoubtedly many, many variations on this theme, and the full story won’t be written until the housing bubble really unwinds — much as we didn’t find out about Enron, WorldCom, and those assorted problems until the tide went out on the stock mania.