Main Points of Housing Bubble

What has happened in the bubble markets in the past 8 months?

In the vast majority of the bubble markets there are four significant trends that have happened in the last 8 months:

• Rapidly rising inventory
• Slowing number of housing unit sales
• Slight decrease in housing prices
• Rising awareness and acceptance of the bubble theory. [As well as a move away from the 'boom will continue' to a 'flattening of price.']
  

So what can we expect over the next year in the US with regards to the housing market?

• YoY price DECLINES in most bubble markets.
• YoY sales DECLINES in the bubble markets
• Rising interest rates
• Rising number of foreclosures
  
• Much less speculation
  
• Less condo conversions
  
• Loss of housing related jobs [construction, real estate agents, mortgage brokers, home renovation, appraisers etc.]
• Tighter lending standards