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Did you just hear a huge popping sound?? - Adventures in Engineering — LiveJournal
The wanderings of a modern ronin.

Ben Cantrick
  Date: 2006-10-26 23:28
  Subject:   Did you just hear a huge popping sound??
Public

New home prices fell last month by the largest amount in 35 years and owners are being warned to brace for further declines, especially in formerly hot markets. The Commerce Department reported that the median price for a new home sold in September was $217,100, a decline of 9.7 percent from September 2005. That was the lowest median home price in two years and the sharpest year-over-year decline since December 1970, providing dramatic evidence of the slowdown in the once-booming housing market.

http://biz.yahoo.com/ap/061026/economy.html?.v=10


Pay off your home equity loans NOW, people...
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(no subject) - (Anonymous)
Ben Cantrick
  User: mackys
  Date: 2006-10-27 01:18 (UTC)
  Subject:   (no subject)
Sorry, I think some places are more or less immune to housing bubble bursts.

Bay Area is certainly one. Boulder here is another one... :P
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Mike Agney
  User: magney
  Date: 2006-10-27 02:21 (UTC)
  Subject:   (no subject)
I doubt either the Bay Area are immune to housing bubble bursts. What you mean, I think, is that no matter how low home prices go in those areas, they still won't actually be affordable to ordinary people.
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  User: nickhalfasleep
  Date: 2006-10-27 02:25 (UTC)
  Subject:   (no subject)
I'm waiting for California to fall into the ocean so my beach-front Nevada land goes up in value. Surf Truckee!
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Ben Cantrick
  User: mackys
  Date: 2006-10-27 03:14 (UTC)
  Subject:   (no subject)
What you mean, I think, is that no matter how low home prices go in those areas, they still won't actually be affordable to ordinary people.

Yes, that's it exactly. Thanks.
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