The Housing Bubble

July 18, 2007 at 12:09 pm in Real Estate

Being in my early 30s, I’m starting to think about owning something — a house, a condo — something.

But prices are insane. I’m a SoCal native, and it saddens me that only the elite, or the gambling minded, can buy houses.

I stumbled upon this article:

Southern California is a beautiful place. The weather is perfect, there is a lot to do, and the people are generally friendly and keep out of your business. For those reasons and many others, I have chosen to make Southern California my home. However, Southern California is not perfect. The culture is infected with pathological beliefs that have led us to the huge problem with house affordability and the impending disaster in our real estate market.

It’s an amazing read. Goes into good detail about what we’re currently experiencing and why we’re only at the beginning.

Here’s another entry from the same blog:

Why do we get so much pleasure from failed flips? I can think of no other human endeavor which has engendered so much pleasure in the misfortune of others. In my opinion, the outpouring of schadenfreude we are seeing as the housing bubble deflates is a mixture of Greek tragedy and bad karma. In short, bubble participants should have seen it coming, and they are getting what they deserve.

And some more bad news about the general housing climate here.

Seems like it’s only going to get bleaker for the housing market here.

Anyone out there buying or selling? What’s it like on the front lines?

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