It was just seven short years ago that the prices at the epicenter of the housing bubble, Los Angeles, CA rose by 50% every six months as the nation experienced its first parabolic move higher in home prices courtesy of Alan Greenspan’s disastrous policies: a time when everyone knew intuitively the housing market was in an epic bubble, yet which nobody wanted to pop because there was just too much fun to be had chasing the bouncing ball, not to mention money. Well, courtesy of the real-time real estate pricing trackers at Altos Research, we now know that the very worst of the housing bubble is not only back, but it is at levels not seen since the days when a house in the Inland Empire was only a faint glimmer of the prototype for BitCoin.
Urf.
A lot of the people I talk to in Phoenix are trying to time their exit. It wasn’t this way in 2005-2006; I had people still eager to buy ten months after the market had turned.
Ashley Cusack says:
We are seeing the same trend here in Miami.
May 8, 2013 — 6:48 am
louis cammarosano says:
Yeah, this time its different!
May 25, 2013 — 7:07 pm
Matt Eichmann says:
I’m in northern california. We’re obviously seeing here as well. this year alone where I am prices have gone up almost 20%. Prices in our area just hit that level where investors are started to lose interest, so I predict things are going to stall here pretty soon.
July 1, 2013 — 12:10 pm