Non-housing blogs are horning in on our story

Posted by: Peter Coy on August 1, 2006

Housing blogs like Hot Property don’t own the housing story. These days you can find anguished commentary about the softening market all over the blogosphere, from political blogs to econ blogs to blogs about nothing in particular. Here’s a thread on the bottom dropping out in L.A. from calcanis.com. And here’s another from blogging.la.

You’ll know things are bad if the gardening blogs weigh in.

Reader Comments

Geoff B

August 2, 2006 8:16 PM

I agree that the blogosphere is trumpeting the softening of the real estate market, but the link from blogging.la doesn't give much of a sense of it. The writer states that prices went from "$500K to $750K to $1.3M", and now they're starting to soften a little. Well, eventually this had to happen, but a little softening should be expected after a 150% rise in prices over five years. Prices could drop by 30% and still preserve a great deal of this housing boom.

I'm not saying this won't get ugly, I'm just saying it isn't ugly yet.

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About

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.

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