Wednesday, September 28, 2005

New Bubble Site: The Bursting Bubble

A new housing bubble site is up and running name The Bursting Bubble. Solid material there. Check it out.

Here are excerpts from an interview I had with Pete Czech, who is the creator of the site.

What is your involvement with the housing market?

First-time buyer looking for a steal.

What prompted you to start the site?

The frustrations of buying a home in an area where prices are making first-time purchases nearly impossible!

What is the purpose of the site?

The purpose is to provide a community specifically related to the bubble and encourage a fair and honest debate with those who believe it and those who don't.

Name some cities that you consider to be bubble markets that are generally under the radar?

Cities like Scranton, PA - outside investors are running up the prices in the area, leaving it more difficult for local investors to compete. Lots of cities like these exist - Boise, ID, some parts of Portland, new Mexico. People who can't afford their area are looking to invest elsewhere and make a buck, driving up the prices substantially when the market really doesn't call for it.

Thanks Pete for the information and welcome to the housing bubble world.