Re: [OPE-L] Bay Area Housing Crash Continues, Bubble Pops

From: Kitamura Iwao (iwao_kitamura@HOTMAIL.COM)
Date: Tue Mar 14 2006 - 16:08:15 EST


I think North East area is already experiencing a slight decrease in
price since mid- last year. Some of real estate brokers' data in new york
suggests apartment prices hit peak in the second quarter last year although
OFHEO HPI did not show such trend yet.

Most of the recent hike in housing price appeared in the areas like Hawaii,

Las Vegas, Florida, Phoenix and Orange County. I think it highly dependent
on speculative investment mainly by high income people and foreign
This move may soon collapse.


>The bubble may have popped in SF but not nationally. If/When the housing
>bubble pops nationally, what consequence will that have for the US
>economy?  On different classes and class segments in the US? On different
>regions and groups?  On the global capitalist economy?
>In solidarity, Jerry

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