« Tune for Today -- Have You Had Enough | Main | The housing collapse heard round the world »

September 6, 2006

Today's Housing Bubble Post - "Wheels Coming Off"

-- by Dave Johnson

'The Wheels Are Coming Off' - a terrifying roundup of the problems battering housing, including a reference to Bloomberg yesterday, U.S. Home-Price Gains Slow as Housing Slump Deepens,

U.S. home-price growth slowed during the second quarter from a year earlier in the sharpest three- month plunge on record, according to a government report issued today that indicates this year's housing slump is deepening.

"The wheels are coming off the housing market,'' said Scott Anderson, an economist at Wells Fargo & Co. in Minneapolis. [emphasis added]

Keep in mind, this is only the very start of the popping of the housing bubble. It's only just hitting the news in a way that spreads out to the broad public. It is only after it becomes generally understood that housing prices are not going up anymore and people take price appreciation out of their buying calculation that we will start to see real changes. Prices have a long way to fall before things get back to normal.

Also noted:

US Housing Crash Continues

And, always, everything at The Housing Bubble blog.

Posted by Dave Johnson at September 6, 2006 8:12 AM

Trackback Pings

TrackBack URL for this entry:


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