Hey, someone woke up a writer at Time magazine this week! They actually ran a housing bubble story - go figure. And a really really poor one at that. But hey, it's a start.
We're still waiting (and waiting, and waiting) for that make-good cover. . After all, the housing crash is the biggest story in the country today, and did win the AP business story of 2006. But I guess Time didn't notice that.
What do you think HP'ers, will Time run maybe one of these this summer?
"Our bad - you shouldn't have gone ga-ga for real estate. Sorry!"
"The Great Housing Ponzi Scheme Has Ended"
"Housing Crash"
Here's Time's naive silly little story today (thanks HP'ers for the tip):
Will The Housing Bubble Burst in 2007?
"Our bad - you shouldn't have gone ga-ga for real estate. Sorry!"
"The Great Housing Ponzi Scheme Has Ended"
"Housing Crash"
Here's Time's naive silly little story today (thanks HP'ers for the tip):
Will The Housing Bubble Burst in 2007?
Since early 2000, economists have been sounding the housing bubble alarm with increasing urgency. And while many markets around the country have seen prices drop in the last year, the dire, across-the-board correction that many predicted has yet to materialize.
There are several factors that could cause a real estate bubble to burst, but the most important factor, one that is sometimes overlooked, is buyer and seller sentiment-how we feel about what's likely to be the biggest windfall, or biggest purchase, of our lives.
Our real estate search and browsing patterns provide a window into the minds of buyers and sellers and offer more than a glimpse of their feelings about the current market. Take for example the simple search for "housing bubble." As bad news continues to build around the housing market, you would expect that "housing bubble" searches would be nearing a crescendo. Actually, the opposite is true.
As of the week ending February 17th 2007, searches for "housing bubble" have reached a two year low, only 4.4% of the searches on the same subject that occurred during the second week of June 2005. A media frenzy around a pending correction occurred that very same week, which demonstrates just how suggestible we are, as well as how short our attention spans can be.
Despite the impasse that the data is painting, in the depths of the search tables for this last week are a few terms to keep an eye on, such as "sell my house fast," and "how to stop a foreclosure." If those reach significant volume, signaling an urgency to sell, the housing bubble alarm might finally ring true.
