Thursday, May 11, 2006

Bay Areans Scared of the Housing Bubble?

The most excellent Seattle Bubble blog was apparently playing around with Google's new Google Trends functionality. That blogger searched on "housing bubble" and the top 10 cities searching on that search phrase came up like so:
  1. Santa Clara, CA
  2. Pleasanton, CA
  3. San Jose, CA
  4. Rancho Santa Margarita, CA
  5. San Diego, CA
  6. San Francisco, CA
  7. Irvine, CA
  8. Reston, VA
  9. Washington, DC
  10. Sacramento, CA
Apparently people in the greater San Francisco area are more worried about a housing bubble than anyone else in the country—by a pretty wide margin—and Californians in general are the by far the most worried about their precious bubble being burst.

9 Comments:

Blogger mktmakr said...

You could also look at it that Bay area people are more prepared (at least thinking about the possibility). Why aren't Las Vegas or Miami on that list? Does that imply that they will get completely blindsided?

May 11, 2006, 12:20:00 PM  
Blogger shineyspikeything said...

It could also be that a lot of us in San Francisco who would like to own homes are priced out and disgusted by the bubble.

And we are waiting, and hoping, for a pop, so we can put down roots in a *reasonable* way when the market drops..

*Hopeful,* not *worried* bubble watching, that's what I'm doing.

I want to buy, just not now, not at these prices.

May 11, 2006, 12:35:00 PM  
Blogger Marinite said...

Why aren't Las Vegas or Miami on that list? Does that imply that they will get completely blindsided?

Maybe a lot of the people in Marin speculating are speculating not just in Marin but also in these other places...Las Vegas, Sacramento, FLA, etc. If so, a pop there could hurt here.

May 11, 2006, 12:45:00 PM  
Blogger John Doe said...

Please don't forget that Rancho Santa Margarita and Irvine are OC. We haven't even started the fear yet because we have Gary Watts. Just wait until we show a yoy loss.
Panic Buttons All Around!

May 11, 2006, 1:45:00 PM  
Blogger hemorrhoidforhousing said...

This comment has been removed by a blog administrator.

May 11, 2006, 2:20:00 PM  
Blogger hemorrhoidforhousing said...

As a Pleasanton resident, I have spent alot of time watching the local market go so far out of reality. I am feeling more and more vindicated every day. The inventory of existing homes and condos has almost tripled in the Tri-Valley in the last 4 months. Prices have stagnated and are starting to slip because of the flood of inventory.

In the last letter to the editor I sent I said I was going to step back and let things unfold. Feeling vindicated and validated I am starting to feel it is time to step back up to the fire and fan it.

May 11, 2006, 2:22:00 PM  
Blogger Athena said...

well it certainly doesn't surprise me that Sonoma County isn't on that list. LOL... Sonoma County doesn't believe in the bubble and they certainly don't care enough to seek information online... or anywhere but their local real estate or mortgage broker's office.

My bet are the other glaring absences have similar information avoidance patterns.

:-)

May 11, 2006, 4:35:00 PM  
Blogger seamus said...

shineyspikeything, I'm with you in so many ways...

I also wonder if it's because the Bay Area has fewer investment properties than Miami, Vegas, and PHX.

May 11, 2006, 6:11:00 PM  
Blogger Rozy said...

Alot of people "must" sit back and just watch the lunacy. We really have no choice with affordability rates at 14%.

I don't know if this will help, but there is a grass-roots group that is starting a "boycott on housing." They feel that the prices in the Bay Area are unreasonable, so they're going to do something about it.

It's kind of interesting. I wonder if they will get a large following.

The website is at:
http://www.boycotthousing.com/home.aspx

(I'm not affiliated with the website - just recently found it.)

May 12, 2006, 12:20:00 AM  

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