Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: kathtoo who wrote (22618)	9/16/2007 10:39:37 PM
From: Snowshoe	Respond to of 218126

>>This feels a lot like Anchorage in mid to late 80's. Only on a much larger scale.<< That 1986-89 Alaska bust was like a major depression in a test tube. Total agony for those who lost their jobs, homes, and businesses. But I was renting and saving up for a house down payment, so I was overjoyed as I watched my salary increase while home prices cratered. Things are cooling off now in 2007, and could get much worse. We're benefitting from very high oil prices, but depletion is accelerating... Shift in housing market Higher-priced homes are being slashed, but less costly are few By ELIZABETH BLUEMINK ebluemink@adn.com Published: September 16, 2007 Last Modified: September 16, 2007 at 03:59 AM Anchorage's hot housing market has cooled. Evidence comes from the proliferating "for sale" signs around town and in the Mat-Su, many of them marked "price reduced." The upshot is that the housing market in the state's largest city -- for the first time in years -- is shifting in favor of buyers. Here are the key trends: The number of houses for sale in Anchorage has increased steadily almost every month since spring of last year. By August, the inventory of Anchorage single-family homes for sale was the largest since 1994 and almost double what was available in August 2001. With the increased supply, it's taking longer for houses to sell. The average selling price for houses is still increasing but at the slowest rate this decade. New home construction has tumbled to half of last year's level. more: adn.com