The local media and many industry analysts are now talking about the bubble in the past tense. As evidence, they cite the longer periods that homes are staying on the market, the plateaus in sales prices, and the generally saner bidding environment.
But many agents can’t seem to part with their dear epoch. “This was a great year for us,” says Gill of 2005. “People are anticipating a decline in prices because of what they’ve read in media.…And you know what? It’s not happening,” says Gill.
Virginia Walker of Weichert Realtors says, “Some people think the market is falling, but it isn’t"
Monday, February 13, 2006
Washington City Paper: Just Reduced
The Washington City Paper has a long article about the housing situation in DC called' Just Reduced'.
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No the market is not falling-yet. It has paused- the fall takes longer- lets see of the huge inventory in the DC area declines, rises or stays the same- if its the last two outcomes- prices will fall- its way to early to say that prices will not fall- the lies fabrications and dupicity of most who work in real estate continues- lets see where things stand at mid year.
ReplyDeleteOooh, nice. I know the City Paper usually has that part where they show 1 property on the market and kind of scoff at what it's listed for. I wonder if they'll highlight price reductions instead of price increases now? City Paper isn't a trade journal, or a great source of economic info, or whatever, but it's read by a lot of the young hipsters who represent a large portion of first time buyers. A lot of young folks who might not know about the bubble might read this and start to think twice about shelling out $300k for that studio....
ReplyDeleteHallelujah! Finally January numbers are coming out from NVAR. You gotta check out this link below. BTW, this winter is the warmerest on record, where the hell did the thirsty buyers go??? Cheer leaders, you said strong demand, solid employment growth, zone limit, %@&$^!@&*$^ will keep the bubble from bursting. WHY THE HELL INVENTORY INCREASED SO MUCH???
ReplyDeletehttp://www.nvar.com/market/marketdetail.lasso?articleno=nvarn100395
WELCOME TO THE WORLD OF GREAT RECESSION JR.!!!