uh-oh: Time Magazine on Housing
Is this the Magazine Indicator at work?
First Fortune, now Time Magazine:
We've seen some terrific Contrary market calls from magazine covers: Time magazine naming Jeff Bezos man of the year in December 1999 marked the top of the internet bubble; The March 21st 2005 Newsweek cover story, "The Incredible Shrinking Dollar," marked a key contrarian turning point in the greenback's fortunes. (The dollar has rallied 7% versus the euro and 2% against the yen since then).
Will the June 13th issue of Time magazine, with its giddy "Home Sweet Home" cover about the real estate market, prove to be similarly prescient? Stay tuned . . .
Monday, June 06, 2005 | 08:24 AM | Permalink
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Comments
Time magazine seems to be the King of the Magazine Cover Effect. When it makes the cover of Time, it's over.
Note that the cover isn't "Watch out for that bubble!" It's "Your house is making you rich! Yay, real estate!"
I'm going to keep renting.
Posted by: seamus | Jun 7, 2005 1:35:22 AM
The Whisky Bar covers more on magazine, err, covers:
This is like the "shoeshine boy" stories you always hear after a major crash, in which sage investor X observes that she knew stocks were overvalued when she found out her shoeshine boy -- or her barber or waiter or some other menial worker -- was investing his dimes and nickels in them. Except shoeshine boys are generally smarter than editors, and will usually get out first.
http://billmon.org/archives/001881.html
Posted by: rajesh | Jun 8, 2005 1:22:23 PM
http://www.evanstock.org/wwwboard/messages/39176.shtml iwasshoespilling
Posted by: clamp | Sep 19, 2005 2:38:27 PM
The market here on Hilton Head Island, SC has been out of control for over five years now. Lending regulations need to be tightened -- no more "negative amortization" loans and such. Everything is out of skew.
Posted by: Hilton Real | Sep 21, 2005 6:56:09 AM
The market here on Hilton Head Island, SC has been out of control for over five years now. Lending regulations need to be tightened -- no more "negative amortization" loans and such. Everything is out of skew.
Posted by: Hilton Real | Sep 21, 2005 6:56:40 AM
Perhaps this needs to be bumped now, as it seems to me, this cover literally called the peak of the housing bubble.
Posted by: mrfnuts | Apr 10, 2008 8:22:16 PM
