Housing bubble?

[donnad]

Well, it seems that our housing bubble isn't popping but it may be starting to deflate.

From this mornings Boston Globe.

Suddenly, area's housing market favors the buyers
Cooling of sales to crimp economyBy Robert Gavin, Globe Staff | October 28, 2005

Comments

[sweetmmeblue]

This is why we took our house off the market. Not everyone has realized that they need to bring their prices down. Thus in order to sell our house we'd have to drop the price so low we couldn't afford to buy a house in the neighborhoods we wish to buy in. Those neighborhoods haven't dropped their prices yet. We're going to wait and let things settle a bit before trying again.

[donnad]

Well, as much as I feel bad that you are unable to sell your house for what you were hoping to get for it, I'm sort of glad this is starting to happen, because now maybe G and I can start thinking about buying again.

Several years ago we were looking, then he got laid off and was out of work for 9 months, we blew through our savings. Then prices skyrocketed and put things way out of reach for us. Now maybe things will come back into reach and we'll have half a chance at owning something.

[halleyscomet]

Oh well, by the time my parents actually have their house on the market, the prices will be picking up again. (They wanted Whuffle and I to delay our wedding until after they had their house on the market. Don't really understand why)

[ailsaek]

I'd been noticing that. We've decided to hold off on any consideration of selling our place until spring, with no close until after Kathy graduates, and not to buy until we've sold ours.

[vettecat]

Love the icon! Is it new?

[vettecat]

This is good and bad... good because it gives us a better chance at being able to afford a house, bad because it could mean we'd get a lower price for our condo (which in turn means we'd have less to spend on a house). Wheels within wheels...