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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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2010
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April
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- Russell Roberts on the housing bubble and financia...
- David Brooks on financial regulation
- In search of fairy tale regulators
- Home sales leap as tax credit nears expiration
- Is now a good time to buy a home?
- A libertarian view of financial regulation
- A big flaw in the proposed financial reform bills
- Regulatory capture
- Yes, Virginia, there is a housing bubble
- Leading indicators point to another housing downturn
- House hunting in DC
- Google economic search trends
- Why regulators have incentive to look the other way
- More of Meredith Whitney on housing
- The Fed claims to be on the lookout for new bubbles
- Why the experts believed bubbles can't exist
- Where the bubbles are, and where they are not
- Larry Kudlow criticizes Obama's latest attempt to ...
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April
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I'm a believer and Ms. Whitney is right. We still have a long way to go. Because we now run on a 24/7 news cycle, the media report every housing blip -- positive or negative -- instead of sitting back and trying to see patterns and trends.
ReplyDeleteWhat struck me was the end about how banking is going to change and that the underbanked/unbanked are going to be affected and how it is going to be even more expensive to be poor.
ReplyDeleteThere was a story in the WSJ today about foreclosures hitting the rich and famous:
ReplyDeletehttp://online.wsj.com/article/SB10001424052702304198004575172303998670976.html?mod=WSJ_hpp_sections_news
They are talking about homes worth 5M$ or more:
In February alone, 352 homes nationwide in this category were scheduled for foreclosure auction, the final step before a bank acquisition. That is the largest monthly number of these so-called notices of sale since the financial crisis began. By comparison, in all of 2009, there were 1,312 such notices.
What this means to us mere mortals is far from clear however. Other than the fact that there will be downward pressure on prices that will eventually filter down.