Sunday, August 27, 2006
Bursting Real Estate Bubble and Coming Recession
Seems this weekend there is stuff everywhere on the bursting housing bubble. Too much to post! One of the best is this powerpoint slide show from the National Association of Realtors chief economist. They are still trying to put a bullish spin on things of course. But it is hard to do that anymore. Also more evidence of coming recession. This week the yield curve inverted more. And apart from the state of the housing market there is evidence such as this chart of retail employment.
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3 comments:
I have a link to Nouriel Roubini and blogs like Mauldin, Shedlock, Calculated Risk, and Jay Chen's "World Markets Blog". If even Lereah is bearish things MUST be bad!
i'm not sure that we'll see a national
bubble burst in real estate.
i am sure that both the coasts will crash
nd since the majority of the population
lives along coast, it will seem like there's
a national bubble burst.
There are many places in the midwest that
haven't gone up in the past 10 years[actually
went down] so there really isn't any bubble
for them to burst.
Just my $1.25[used to be $0.02, but with the
rise in real estate prices in CA its worth
more - for the time being!]
Prices have fallen a lot in Michigan.... yes, in many places the market will likely just stagnate for a while. Where I live the median price is a little below the national average. Activity is down a lot in terms of sales but prices are still rising a few percentage points. The East Coast is hardly very uniform in terms of prices and trends. Much less than the West Coast is. We are only 150 miles from the coast... And look at the cheap state of PA (they have low state taxes too).
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