And now for a bit of whimsy in the wake of today’s depressing Case-Shiller update.
I was reviewing the latest housing data at Calculated Risk and had a mental flashback to August 2009, when I originally posted this hilarious SNL skit, Don’t buy stuff you cannot afford (see video below).
I speculated at the time that the skit itself was the true cause of the housing collapse. Why?
With this in mind, let’s have a look at Calculated Risk’s latest S&P Case-Shiller Index chart, to which I’ve highlighted the SNL date.
So now we understand what REALLY caused the collapse of the housing market. Everyone watched this SNL episode stopped buying houses they couldn’t afford.
This post originally appeared at DShort.com.