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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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When will inflation-adjusted DC-area housing prices return to pre-bubble levels?
Are housing prices about to experience a double-dip?
How should the U.S. government balance the budget? (Check all that apply.)
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Bubble Meter Archive
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2007
(152)
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November
(19)
- Mr. Yun's September 2005 Prediction is Way Off
- Lereah's Book. Haha
- Making Fun of Countrywide's Mozillo
- Lance from September 2006
- Case Shiller Index Way Down; Washington, DC Area ...
- Greenspan's Recent Statements on Housing & Asset B...
- Negative Sales in Las Vegas by Toll Brothers
- HapppyThanksgiving
- Lereah's Book in 2005
- Google Trends: "Foreclosure" in California
- California Prices Fall Significantly Year Over Year
- BubbleSphere Roundup
- Realtor's Convention in Vegas
- Washington - Baltimore , RE Sales Numbers. Octobe...
- Lawrence Yun Promoted to Chief Economist
- Bubble Sphere Roundup
- How Low Can They Go?
- Back to Comment Moderation
- Mica Lowers Price This Weekend
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▼
November
(19)
That poor family is priced out forever...
ReplyDelete"A class of perpetual renters will have been created where its members can never work their way out of their condition." Lance June 23 2006
Ha ha, anyone remember the spoof that someone did on that book cover? It showed a house in collapse with a little girl running screaming. The title said something like "Why the housing market has collapsed and how I became an asshole". Ha ha. If anyone still has that please post.
ReplyDeleteRE: Lereah's book
ReplyDeleteWORST. TIMING. EVER!
Looks like, if that house falls right, it'll crush that family. (depending which way it falls.)
ReplyDeleteYes, I'm missing the RE boom, it's been MIA for over 2 years now. Back then, none of this declining values stuff, and stocks were nothing but up.
ReplyDeleteAh, how I miss it...
Try checking out the cover of this week's Economist.
ReplyDeleteanon 2:32 PM:
ReplyDeleteYou rock, that quote is priceless. If we were to make a chronoligical list of lance quotes it mike make for a good comedy sketch.
Seriously, he has made some outlandish claims..
Bidding wars were going to return in may.
Bubbleheads caused the bubble to deflate, of course now he claims there never was a bubble even though everyone on on the planet agrees there was a bubble... Delusional.
Bob
IN 1929, days after the stockmarket crash, the Harvard Economic Society reassured its subscribers: “A severe depression is outside the range of probability”. (From the economist article provided by James.)
ReplyDeleteWhew, glad to hear their predictions on recessions are so good too. ;)
The oil price has risen mainly because of strong demand in emerging economies, which have accounted for as much as four-fifths of the total increase in oil consumption in the past five years. In past American recessions the oil price usually fell. This time it is likely to hold up.
Now this is the killer. I predict $120/bbl by next summer. :(
But hey, buy now or be priced out forever! ;) Or... wait until 2010 and buy a home and a vacation condo for less than either sell for today. :)
Got popcorn?
Neil
The Wall Street Journal
ReplyDeleteNovember 20, 2007, C1
If Home History Repeats Itself, Then Look Out
"Today an unprecedented number of homes don't have anyone living in them. According to the Census Bureau, 2.7% of U.S. homeowner inventory (which excludes rentals, vacation homes and homes that are sold and awaiting occupancy) is vacant and for sale. Before last year, that figure had never been higher than 1.9%. Just to get the vacancy level back to that point, the market needs to absorb more than 500,000 empty homes."
Chew on that.
I want to wish everyone a happy Thanksgiving. May you and yours be safe through the holidays.
ReplyDeleteNeil
"wannabuy said...
ReplyDeleteI want to wish everyone a happy Thanksgiving. May you and yours be safe through the holidays.
Neil"
Same wishes to you and yours Neil.