Superfrog Again

I mentioned asset bubbles in Japan in my recent post on Superfrog Saves Tokyo, and how the Japanese lost decade-and-counting resembles our situation. The fact that we can view a similar process that is 12 years older than ours gives us nothing, because we do not see any similarities.
Anyway, there is this about housing bubbles today... bubbles you thought had burst and gone away. It scares the beejabbers out of me.

http://www.marketwatch.com/story/housing-crash-is-getting-worse-2011-05-09?link=MW_story_popular

May 9, 2011, 12:01 a.m. EDT

Housing crash is getting worse: report

...New data just out from Zillow, the real-estate information company, show house prices are falling at their fastest rate since the Lehman collapse.

Average home prices are down 8% from a year ago, 3% over the quarter, and are falling at about 1% every month, according to Zillow. 

And the percentage of homeowners in negative-equity positions — with a home worth less than its mortgage — has rocketed to 28%, a new crisis high.

Zillow now predicts prices will fall about 8% this year and says it no longer expects the market to bottom before 2012..

Thou shalt no more be termed Forsaken; neither shall thy land any more be termed Desolate; but thou shalt be called Hephzibah and thy land Beulah; for the LORD delighteth in thee, and thy land shall be married
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