April 25, 2006

Bubble bench update


A HP reader (thanks Chris) took a picture the other day of Bubblemeter's now-famous Bubble Bench in DC. If you were a prospective buyer in this flipper complex, wouldn't you be a bit nervous? Well, a low-ball bid would likely get taken tough...

Send me any other great pictures of Bubble Benches, Bubble Gates, Bubble Trees or Bubble Posts - those congregations of desperate flipper lock boxes. A picture is worth a thousand words...

11 comments:

Anonymous said...

Saw this picture months ago!!!!

keith said...

nope - different new picture although not much has changed... bubblemeter broker the story - click the link to get to their story

Anonymous said...

I think there are fewer lockboxes than in the previous picture...Ben has engineered a soft landing ;)

Anonymous said...

How long does a soft landing take? 10 years?

autofx in Phx said...

There will be no soft landing. The chances that some emergency, whether perceived or real, will occur in the coming months are very high. It won't take much to tip this now excruciatingly fragile economy over the edge.

Some major terrorist act in the US or the UK or a Saudi oil facility, an attack on Iran, another Katrina...or just the Fed tightening 2 or 3 more times...

The tipping point is near. Call me Chicken Little if you want.

keith said...

I think some of the realtors got wise and moved their lock boxes off of the panic bench

why advertise desperation - there's gotta be somewhere else to store the damn key!

David said...

" I think there are fewer lockboxes than in the previous picture...Ben has engineered a soft landing ;)"

There is another similiar building going up across the street.

Anonymous said...

The world is coming to an end. AAAAAAAAAHHHHHHHHHH


You trolls are funny. I can't wait to see the look on your stupid faces when the world goes on as normal just like it did through the recession of the 1970's 1980's 1990's 2000. Oh won't you be so disappointed when there's no bird flu epidemic and people keep living in their homes.

Anonymous said...

Finally some actual news about the central and south Florida market. For those who are interested:


-------------------------

Used homes sales in March decreased by more than 30 percent in Palm Beach and Broward counties from March 2005. But sales rose 21 percent in Miami-Dade.

Sales of used condominiums were down in all three counties, year over year. The median price of condos rose 25 percent in Palm Beach County to $224,600 and 16 percent in Broward to $202,600.

In Miami-Dade, the median fell 4 percent to $249,200. Miami-Dade has more than 71,000 condos built or planned, and that supply is affecting prices there, real estate analysts say.Nationally, the once red-hot housing market is still holding its own and defying fears of a bursting bubble.

Nationally, the once red-hot housing market is still holding its own and defying fears of a bursting bubble.

Sales of previously owned homes edged up slightly in March, the National Association of Realtors said today, as the inventory of unsold homes hit a record high.

The March increase followed a bigger 5.1 percent jump in February. The two months represented the first advances after five consecutive monthly declines, offering signs of more stability in the housing market than many analysts had expected.

The median price of a new home rose to $218,000 last month, a gain of 7.4 percent from a year ago. But that was far slower than the double-digit gains turned in last year as the housing boom was peaking.

In the metro Orlando area, where sales were up 10 percent in March, condos are fueling the growth now. The Orlando Regional Realtors Association reported its numbers last week and said the local inventory hit a record 14,559 homes in March ? nearly five times more than a year ago.

The metro Orlando median sales price was flat in March at $240,000, down slightly from February and well below the peak of $249,900 in November when the 2005 sales frenzy was still under way.

But condos are now providing sales momentum in the Orlando area, up 158 percent from a year ago, while existing single-family homes were down more than 9 percent.


http://www.sun-sentinel.com/business/local/sfl-424housingprices,0,571831.story?track=mostemailedlink

Anonymous said...

People - there is no housing bubble in Orlando!!! The influx of homes for sale has been driven by the media. Investors, with little experience in real estate are running scared. This does not change the fundamentals of the marketplace in Orlando (growing population, more jobs, higher wages, inflation in check) will all help sustain the housing market. Just don't expect double digit increases. Money is still extremely cheap, by historical standards and you can expect rate cuts in '07 as the economy slows). As uneducated investors flee the market hoping to cash in, now is the time to be looking for deals. No bah-humbug here!

plymster said...

Here's a Bubble Fence in Seattle for some condos at 2nd and Wall St. Credit goes to Condocrazy! for his post at www.seattlebubble.com for this photo.