Let the Education of the Masses Begin...

In a great post called Twisted Arms over at the So. Cal. Bubble site, Chuck Ponzi asks....

"Ever explained to someone that the housing bubble in California is just a blowoff of speculative demand, only to be rebuffed by some pseudo edumuhcashun truthiness about how so many people want to live here, blah blah blah, great weather, blah blah blah, people make a lot of money here, blah blah blah, construction costs, blah blah blah, land use restrictions, blah blah blah and so on blather?"

"Would you just love to stick something in their face that breaks it down scientifically and proves them all wrong? Something that shows exactly how much these variables changed the cost of living here? Wouldn’t you love to get your hands on exactly that piece of information? Wouldn’t you love to prove in graphs and numbers that the variables they just mentioned had little to no effect on prices, while it was exactly the proliferation of ARMs that did it?"

Please visit his site for the proof and supporting graphs.