2012 December 05 | timiacono.com

Bridger Bowl To Open On Friday

The local ski area – Bridger Bowl – opens on Friday and, despite not getting a whole lot of snow so far this year, they’ll be opening almost all of the mountain. Here’s a little Claymation video by local film maker Sam Lowe-Anker about what it’s sometimes like for residents with out-of-town visitors.

About an hour to the south are Big Sky and Moonlight Basin, what they collectively refer to as the “Biggest Skiing in America”. We were down at Big Sky last week on a special deal for locals and it was good to get those leg muscles working again. The winter of 2010 was just unbelievable (I think they had 400 or more inches of snow), but last year was kind of a bust, trying to avoid rocks almost all season. Also, check out this photo of the Ridge.

How Fed Policy Distorts Home Prices

I’ve about had it with how giddy a large portion of the U.S. population has become about rising home prices.

Don’t get me wrong, when first thinking about this, I was about as happy as anyone else to learn that property values are now rising sharply again since, after renting for six years, my wife and I finally bought a house about two years ago. So, we stand to benefit as much as anyone else.

But, when you look at what’s driving home prices higher and how unnatural and unsustainable those factors are, suddenly the headlines sound more ominous than optimistic.

Rising Home PricesThe glee of Diane Sawyer and David Muir was nearly uncontrollable on ABC News last night as they detailed the latest findings from Corelogic showing that home prices rose by over 6 percent from a year ago.

This video is the closest that I could find at ABC News, but you get the idea.

This LA Times report detailed the findings of a UCLA Anderson Forecast study that indicated the “housing market is becoming the leading source of strength for the long-sluggish American economic recovery“.

On the surface, this sounds like a good thing, but not when you examine what’s driving home prices.

(more…)

© 2010-2011 The Mess That Greenspan Made