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November 27, 2007
Today's Housing Bubble Post - How Far The Fall?
-- by Dave Johnson
Calculated Risk: LA Times: How Far Will House Prices Fall?
If SoCal prices fall 25%, then prices in other areas - like Miami and Las Vegas - will probably decline a similar amount.Keep in mind my own observation that houses near here are not selling even after a price cut of almost a third.
OTHER bubbles, like the "dot com" bubble, have seen prices fall right back to where they would have been without the bubble. In fact, haven't ALL other bubble fallen like that? Why will this one be different? And that means you're looking at 50% or more.
Posted by Dave Johnson at November 27, 2007 11:53 AM
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