Try to Get a Hold of Today’s WSJ
Today’s Wall Street Journal continues the papers in depth coverage of the housing bubble. (Subscription required for the WSJ website.) One story says that even though the bubble might not be national in scope, the places that are experiencing fast price rises encompass a huge sector of the population, which practically makes the housing bubble everyone’s problem.
“New federal housing data show that the nation's most overheated local housing markets now make up such a large share of the total U.S. market that a sharp fall in their values could stall or slow national economic growth.
The 22 major metropolitan markets with the fastest-growing house prices account for 35% of the value of the nation's residential real estate, but just a fifth of its population, says the Federal Deposit Insurance Corp.”
“New federal housing data show that the nation's most overheated local housing markets now make up such a large share of the total U.S. market that a sharp fall in their values could stall or slow national economic growth.
The 22 major metropolitan markets with the fastest-growing house prices account for 35% of the value of the nation's residential real estate, but just a fifth of its population, says the Federal Deposit Insurance Corp.”
posted by Little_Silvered at 6:55 PM
2 Comments:
I think today June 20, 2005 might be considered the day the tide officially turned. CNBC ran stories at a pace of 2 per hour on the bursting of the housing bubble and for the first time did not have some realtor representing the other side exclaiming "there is no bubble". Housing stocks were negative today. Barron's ran two articles this past weekend about the bursting of the bubble. I think everyone senses there is a fire and are looking for the exit signs.
Wow, CNBC and Barron's !
I can not wait for this madness to end . How many people surrendered to this craziness and bought in the last 2 years because of the fear of losing out and peer pressure ?
I keep hearing stories.. bought..
bought..
We need to have YOY red numbers by the end of this year, at least in some municipalities, for the media not to loose interest in the topic.
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