The New York Times' newish real estate blog "The Walk-Through" looks at the proliferation of blogs focusing on the real estate bubble (caveat: bubble may or may not exist, and to what degree is up for debate). Is it any surprise that most of the blogs are from California? Our neighborhood entry into the pot is the Southern California Real Estate Bubble Crash blog where we get a lesson in supply and demand (ECON 101) in the December 15th entry:
Basics: People buy more of something when it is cheaper (downward sloping demand curve) and suppliers supply more of something when it is more expensive (upward sloping supply curve). The market price is where the demand curve intersects with the supply curve. We won't talk about elasticity of pricing or supply lags or anything, just the basics.And if you're curious as to why we're frightened to death of opening up to reader comments at the moment, look no further than the vituperative left for the poor soul who wrote the Walk-Through post. The comments are actually more entertaining than the post itself.
· The Bubble in Bubble Blogs [The Walk-Through]