Jonathan Christopher

Greenspan Yet Again Blames Others for Housing Bubble

The housing bubble was clear and predictable. In 2005 I sold what property I could in vastly-over priced Hawaii and purchased in relatively under-priced North Carolina, and moved there. Who in their right mind would move from Maui to Chapel Hill except under duress?

Are Home Prices Still Too High?

Finally - A set of comments that REALLY understand what is happening.
Demographics is the name of the game, and there are too few post-boomers chasing too many homes. (These comments also apply to Retailers, and for the same reason.)

Prices WILL stabilize at replacement cost in each area of the country, once excess inventory is worked off. In rust-belt cities and no-growth towns, prices will keep dropping until homes get destroyed by vandals or the effects of sitting empty.

In places like Chapel Hill, NC (where I bought 4 years ago when this Recession became apparent), prices have been remarkably stable.

In other places, like Maui - which had huge price inflation, prices have another 10 to 40 percent of collapse to go., (depending in part on the re-emergence of Japanese buyers).