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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (33190)6/12/2005 9:45:50 AM
From: Dale BakerRead Replies (1) of 306849
 
I thought I would be old-fashioned and turn to HUD for housing numbers after I had consulted BLS for the labor statistics.

huduser.org

Supposedly they spend a lot of money getting these numbers for public use. I figure they should be correct within a few % points and a few million units up or down.

The interesting correlation to me is why public money went into a huge campaign to get non-college-educated workers into their own homes. I know why - it's politically popular. If it's economically sustainable too, that's wonderful.

But now you have a situation where a variety of economic factors has induced a price bubble in some markets and priced out the blue-collar family unless they take a ridiculous IO-ARM that could get them evicted in a few years. How many listings are there in the greater DC area for under $250,000 nowadays? Any of them in neighborhoods a decent working family would want to live in?

We could go off on another tangent too, about the energy costs involved in suburban sprawl and the obscene commutes many people undertake in your neck of the woods nowadays. The DC area traffic has made the place almost unliveable by some standards (namely mine, LOL). Not everyone considers that "progress".

If I get really bored, I suppose I could go dig up a figure on % occupancy for rental housing today to see if the evictees will have a place to live if and when they lose their new home that they couldn't afford.
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