« Today's Housing Bubble Story - San Jose Home Prices Down 6% Since June | Main | New Republican Ad Says Iraq Invasion Was About Destroying al Queda Terrorists »


September 8, 2006

More Housing Bubble News

-- by Dave Johnson

Calculated Risk: Housing: Difference a Year Makes, has a great chart of year-to-year changes in the housing market. Keep in mind that the real news of a downturn in housing is only recently hitting the press in a way that will penetrate to average people. These numbers are what is causing that news - and NOT from people reacting to that news. Things will really start happening when people start reacting, and start understanding that their house will be worth less next year, and start thinking about taking a profit - or just getting out - now.

Recent data quantify housing cooldown (year-over-year changes).
Builders’ sentiment down 52.2%
New-home sales down 21.6%
Purchase-mortgage applications down 20.9%
Building permits down 20.8%
Go see the whole chart.

Posted by Dave Johnson at September 8, 2006 8:53 AM

Trackback Pings

TrackBack URL for this entry:
http://www.seeingtheforest.com/cgi-bin/mt/mt-t.fcgi/2251


Comments

I wonder how this is really shaping up in NYC? Just listened to Bloomberg saying that new companies are moving into downtown NYC, and that could be keeping the housing market stronger here.

Posted by: MJ [TypeKey Profile Page] at September 8, 2006 10:24 AM

Post a comment

Thanks for signing in, . Now you can comment. (sign out)

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)


Remember me?



Email this entry to:


Your email address:


Message (optional):


Return to main page