Thursday, August 16, 2007

Sacramento Housing Blogs Mentioned in Sacramento News & Review

"For at least the past three years, the alts were the only place you could read about the burgeoning real-estate bubble that has now popped, threatening to take the rest of the economy down with it. Forget about the Sacramento Bee, which continues to push the idea that the housing downturn is a temporary glitch even as Sacramento County and the rest of California lead the nation in the number of foreclosures."
"Blogging the bubble: Fortunately, readers can get the straight dope at the frothy host of local blogs and Web sites that have appeared in the wake of the collapsing bubble. For a daily update on regional housing bubble news, try One of the more amusing blogs, at least for non-homeowners, is, which posts the prices of homes as they sell, charting both the number of days on the market and percent discount in asking price."

"How’s $451K sound for a four bedroom home in Elk Grove that languished on the market for 350 days at $799K? That’s a drop in price of 36 percent, brothers and sisters. The record number of days on the market so far? How’s 482 days sound? Sharpest drop in asking price? Forty percent. Like gravity, economics is inevitable. What goes up must come down."

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