The watch is on for which of the overheated markets are first showing signs of cooling. Looks like San Diego is the bellwether market in California, and some experts there think that the current cooling in San Diego is a proxy for what’s yet to come in the rest of California. A good read in this past Sunday’s Los Angeles Times on the situation in San Diego. Any readers there who can confirm this trend?
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.