I read this article on Boston real estate dropping 20% in a matter of weeks then I read this article about people using technology to spontaneously gather (that’s a gigantic pillowfight in the street flashmob in the picture) and it dawned on me. Home builders and home equity businesses spend millions on advertisments in newspapers. The newspaper business is suffering because of competition (blogs, websites, etc.) so they’re clinging onto any revenue they can get their inky hands on. They do that by helping the housing industrial media complex through a lack of articles about the decline of the housing market.

What if the flash-mob wasn’t a pillow fight in the street but a selling frenzy? Does the free flow of information necessarily lead to volatility?

The people I’ve talked to who only read newspapers are generally oblivious about a bubble. The demographics of pain from the housing bubble pop will probably be skewed towards the elderly and non tech savvy.