What will soak up excess housing? Time

Posted by: Peter Coy on November 13, 2008

Bill Conerly.jpgBill Conerly at Seeking Alpha has a good post today about how to deal with the excess housing supply. In a nutshell, he says helping people move from renting to owning isn’t the right solution because it will just exacerbate the oversupply of rental units. The only solution, in his view, is population growth. That takes time.

Reader Comments

Terry Pratt

November 13, 2008 3:01 PM

Bill Conerly should know full well that there is no excess rental housing in Portland. I pay 70 percent of my income to rent a room in a house with nine people at the edge of town.

Ballbuster

November 14, 2008 4:53 AM

How can Bill Conerly show his face at BW after making such brilliant comments? He should change his affiliate's name from Seeking Alpha to Seeking a Brain. Conerly's ignorance has no limit when he says that helping renter move to homeownership will only exacerbate the oversupply of rental units. By his logic, we should not develop efficient cars because that would only exacerbate the oversupply of gasoline; we should not produce life saving medicine because that would exacerbate the oversupply of human beings on earth; we shouldn't have help his parent give birth to him because that will just exacerbate the oversupply of moron in this country. Incredibly well thought out, his ultimate solution to the housing bust is population growth. GM and Ford have excess car supply? The only solution is population growth. Dairy farmers with excess milk supply? The only solution is population growth. Too much air pollution? The only solution is population growth. Too many businessmen in fancy monkey suits who are certified idiots? The only solution is population growth. Well, in retrospect, maybe not if society is fostering the reproduction of people like Conerly. If BW readers ever wonder why American corporations like LehmanBros, BearnStearn, WaMu, Merrillynch, AIG, Wachovia, Countrywide, etc have collapsed, look no further than Conerly's photo. He is the poster child of your typical moron corporate officer, a product of insular breeding, and a specimen of unbridled population growth.

hoffman

February 20, 2009 11:11 PM

GM and Ford have excess car supply? The only solution is population growth. Dairy farmers with excess milk supply? The only solution is population growth. Too much air pollution? The only solution is population growth. Too many businessmen in fancy monkey suits who are certified idiots? The only solution is population growth. Well, in retrospect, maybe not if society is fostering the reproduction of people like Conerly.

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Rock

Home Loans

Hoffman

February 20, 2009 11:12 PM

GM and Ford have excess car supply? The only solution is population growth. Dairy farmers with excess milk supply? The only solution is population growth. Too much air pollution? The only solution is population growth. Too many businessmen in fancy monkey suits who are certified idiots? The only solution is population growth. Well, in retrospect, maybe not if society is fostering the reproduction of people like Conerly.

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Hoffman

Home Loans

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BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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