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Bubble Meter is a national housing bubble blog dedicated to tracking the continuing decline of the housing bubble throughout the USA. It is a long and slow decline. Housing prices were simply unsustainable. National housing bubble coverage. Please join in the discussion.
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The Bubble Meter Philosophy
The best way to get the housing market thriving again is to drop prices to the point where supply equals demand. Home sellers might not like it, but it's good for buyers and it's great for Realtors.
For Realtors, the best way to make more money is to sell houses quickly, and the best way to sell houses quickly is to convince the seller to drop the price.
For Realtors, the best way to make more money is to sell houses quickly, and the best way to sell houses quickly is to convince the seller to drop the price.
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Bubble Meter Archive
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2007
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May
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- US Ecomomy Stalls; Headed for Recession
- BubbleSphere Roundup
- Questions for Mr. Bubble Meter
- Trump: It's a Great To Buy!
- Bernanke on the Suprbime Meltdown
- Lereah: It Was My Publisher's Fault
- BubbleSphere Roundup
- Happy Mother's Day From Your Bubblicious Condo
- April 2007 Washington - Baltimore MRIS Numbers
- The Thin Consumer Veneer
- Quoted in the Chicago Tribune
- 1256 New Jersey Ave NW, Washington, DC
- Buffet: "Housing Market is Sick"
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May
(13)
Some anon said somewhere on this blog that the housing builders were grading the DC market as good.
ReplyDeleteWell, that was a lie. Bob Toll said this on an online conference.
"Washington, D.C. is, northern Virginia is probably a D-plus market"
You can find the link to the text on bens blog.
See lance, I quoted something "factual" then provided evidence of my facts.. Where is the address of that townhouse that doubled in 1 year?
the real bob
The new MRIS data is now available...
ReplyDelete20009(Lance's zip) is down 6% YoY...
The district as a whole is down as well.
so much for another of Lance's lies.
Don't worry though, May is when the bidding wars start again according to Lance a couple months ago. Things will turn right around...
The only thing that has doubled in the last year is the length of Lances nose.
ReplyDelete"Some anon said somewhere on this blog that the housing builders were grading the DC market as good."
ReplyDelete"Well, that was a lie. Bob Toll said this on an online conference."
'"Washington, D.C. is, northern Virginia is probably a D-plus market"'
Lance, your thoughts.
Look here for the April condo numbers for D.C., not Metro Washington. Prices are up, sales are up, inventory is down. Don't flame me because it is true.
ReplyDeletehttp://dcbubble.blogspot.com/2007/05/believe-it-or-not-dc-condo-market-is.html
For DC houses its more of a mixed bag, but no bursting bubble or firesale.
http://dcbubble.blogspot.com/2007/05/mixed-bag-for-market-for-dc-houses.html
"Look here for the April condo numbers for D.C., not Metro Washington. Prices are up, sales are up, inventory is down. Don't flame me because it is true.
ReplyDeletehttp://dcbubble.blogspot.com/2007/05/believe-it-or-not-dc-condo-market-is.html
For DC houses its more of a mixed bag, but no bursting bubble or firesale.
http://dcbubble.blogspot.com/2007/05/mixed-bag-for-market-for-dc-houses.html "
PWN3D!
dcbubble, your source is a bit sketchy. "Greater Capital Area of Realtors" Where is this data actually coming from?
ReplyDeleteI am skeptical seeing as how all of the other data is not saying this... MRIS, etc.
the real bo
http://www.gcaar.com/statistics/2007-home-sales/dccc0407.pdf
ReplyDeleteI just looked. Median prices are down on condos from 354 to 350. Can't you even read a graph?
"Don't flame me because it is true."
I don't know if this is flaming, but what you said isn't true, and is contradicted by your own data source.
Hey, dcbubble, according to your data source, median condo prices fell YoY from $354,100 to $350,000 (-1.2%). SFH increased from $499,000 to $505,000. YoY (+1.2%).
ReplyDeleteWe don't have April 2007 inflation numbers, but the March YoY CPI less shelter for the Washington-Baltimore metro statistical area was 2.6%.
BTW, for the Washington-Baltimore CPI less shelter, go to http://data.bls.gov/cgi-bin/srgate/ and enter series identifier CUURA311SA0L2. For the national CPI less shelter, enter series identifier CUUR0000SA0L2. CPI series IDs can be found at http://www.econstats.com/BLS/blscu/index_cpi_area.htm
Yes, Anony, you and DC Bubble got pwn3d. Thanks for admitting it.
ReplyDeletehttp://www.gcaar.com/statistics/2007-home-sales/dccc0407.pdf
ReplyDeleteSorry, as someone else pointed out, median condo prices fell from 354k to 350k, inventory increased from 1200 - 1400, and sales fell from 450 - 400. Nice try, check your sources next time.