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Booming Local Housing Markets Weigh Heavily on Overall Sector

Contributed by mm | June 20, 2005 5:27 AM PST





It might be true that the bust will not be as dramatic as the stock market correction, but it will be at least as painful.

From Wall Street Journal:

Some economists say local bubbles are less worrisome than a nationwide one because they are more likely to pop individually, in response to local events, reducing the national fallout. And Federal Reserve Chairman Alan Greenspan recently has said that the U.S. has no national housing bubble, but there are "signs of froth in some local markets."

But the latest data suggest that real-estate values in the nation's fastest-growing markets are getting so large that the distinction between them and the national market could become meaningless.
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Enjoy the latest personal finance news and commentary at PFBlog Network.
Similar Posts

Bubble Anxiety Has Homeowners Debating: Time to Sell or to Rent? (June 24, 2005)
By the end of the day, it all comes down to the expectation for house price appreciation, which is hard to guess.
Fannie Sees Higher Odds Of Regional Housing Busts (June 20, 2005)
Fannie may have its own motive, but we all know banks are offering more "creative" financing options.
What Happens If Real Estate Goes Bust (June 14, 2005)
No conclusion offered but if the bubble is bursted, the consequenes will be ugly.
Low Mortgage Rates Defy Expectations (June 2, 2005)
Very unusual ... the yield curve will be almost flat if Fed keeps raising Fed rate. Many people are certainly playing with fire now, and the outcome does not look promising.

Read all 27 articles in the same category.

Read More ... All Other Posts In The Same Category

07/30/06 | CNNMoney: Most Overpriced Home Markets
04/30/06 | 50-Year Mortgage Debuts in California | (3)
04/12/06 | Click Here To See Your Home Depreciate
03/17/06 | Residential Mortgage Delinquencies Increase
03/12/06 | Some Finding Perils in Online Real Estate
03/09/06 | Mortgage Rate Trend Index - Week of 3/9
08/28/05 | Bubble-lusions
08/26/05 | Are You Missing the Real Estate Boom?
08/26/05 | Home Equity is Not Savings
08/23/05 | Bubble-Metrics: Economists Handicap Housing Markets
08/22/05 | Be Warned: Mr. Bubble's Worried Again
08/22/05 | Online Bettors Find a New Love: Real Estate
08/20/05 | Don't Forget Home Equity
08/19/05 | Home Prices 'Extremely Overvalued' in 53 Cities
08/17/05 | How Will Home Boom End?
07/18/05 | Searching for a Home In Atherton, Calif.? Look Out for Googlers
07/18/05 | Realtors Raise Pressure On Discounters
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06/30/05 | 30-Year Mortgages Drop To 15-Month Low
06/24/05 | Bubble Anxiety Has Homeowners Debating: Time to Sell or to Rent?
06/20/05 | Fannie Sees Higher Odds Of Regional Housing Busts
06/14/05 | What Happens If Real Estate Goes Bust
06/02/05 | Low Mortgage Rates Defy Expectations
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05/30/05 | Is Your House Overvalued?


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