Tuesday, August 23, 2005

Condo Market Showing Signs of Weakness

According to this article, the condo market is on its way to popping. Condos are the last to go into a frenzy during a RE bubble. But what got me was this quote from the head RE cheerleader, David Lereah (emphasis mine): "Has the condo market peaked? 'Maybe,' said David Lereah. 'We may be seeing some of the air come out of the condo balloon.' "

So he is on record as claiming there is no housing bubble but given the latest facts the closest he can bring himself to saying "bubble" is "balloon".

1 comment:

marine_explorer said...

Since condos are heavily invested, it will be interesting to see how these time against SFH. Will investors drop them first, followed by homes?