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".

4 Comments:

Blogger fredtobik said...

I thought Condos were last to go up in a market and first to go down?

Aug 23, 2005, 2:34:00 PM  
Blogger marin_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?

Aug 23, 2005, 2:41:00 PM  
Blogger b said...

" thought Condos were last to go up in a market and first to go down?"

That's the point. Duh!

Aug 28, 2005, 12:09:00 PM  
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