MOBILE USERS: m.isthmus.com
Connect with Isthmus on Twitter · Facebook · Flickr · Newsletters · Instagram 
Saturday, September 20, 2014 |  Madison, WI: 67.0° F  Overcast
Collapse Photo Bar

Madison Housing Bubble Blog

What are the things that puzzle, enrage, delight and tickle you as you go about your life in Madison?

Madison Housing Bubble Blog

Postby joe blo » Mon Jan 22, 2007 1:17 pm

The new Madison Housing Bubble Blog website is now online:

http://madisonhousingbubble.blogspot.com/
joe blo
Member
 
Posts: 10
Joined: Sun Jan 21, 2007 12:11 pm

Postby admin » Mon Jan 22, 2007 1:17 pm

One of these, or any other post, is sufficient.
admin
Forum Addict
 
Posts: 311
Joined: Wed Dec 31, 1969 7:00 pm

Postby joe blo » Fri Feb 02, 2007 8:34 pm

updates are now online...
joe blo
Member
 
Posts: 10
Joined: Sun Jan 21, 2007 12:11 pm

Postby harrissimo » Sat Feb 03, 2007 8:01 am

Excellent blog Joe. I will be a frequent visitor. I'm so happy that I just stayed in my little dump of house on the Isthmus. Been here since May 1980 and I ain't movin'.
harrissimo
Forum God/Goddess
 
Posts: 2557
Joined: Sat Feb 19, 2005 8:33 am
Location: Spaight Street on the Isthmus of Madison

Postby joe blo » Sat Feb 03, 2007 10:37 am

Thanks Harri - smart move to stay in your little house.

I'm hoping to get more traffic to the website - the more discussion we have the more we will all learn about this crazy real estate bubble.
joe blo
Member
 
Posts: 10
Joined: Sun Jan 21, 2007 12:11 pm

Postby doddles » Sat Feb 03, 2007 1:20 pm

Question is, how/when will the bubble burst? At the moment, we probably have an increasing number of people who are struggling to meet the mortgages on investment properties because the rental market is also down, so rental payments aren't covering the mortgage and associated expenses (taxes, maintenance, etc). But many of them can't sell, because they haven't yet enough equity in the properties to sell and suck up a loss. The banks don't want them to default, because they'll lose money.

A similar thing has been happening in the UK recently, and the banks have responded by making mortgages even easier to get - they're now lending up to 5 times income! i.e. keep the bubble expanding. But for how long can that go on?
doddles
Forum Addict
 
Posts: 366
Joined: Tue Apr 05, 2005 1:14 pm
Location: Reading, UK

Postby massimo » Sat Feb 03, 2007 1:25 pm

Ummm, doddles, don't bother engaging him, he likes to keep it a one-way conversation.

joe blo wrote:updates are now online...
massimo
Forum God/Goddess
 
Posts: 1704
Joined: Tue Oct 11, 2005 5:52 pm
Location: Madison

Postby joe blo » Sun Feb 04, 2007 12:02 pm

Doodles - you hit he nail on the head!! There is a huge interest in making sure property values do not go down. Builders are pulling out all the stops doing mortage interest rate buydowns, etc., governments are doing all they can to keep things afloat with tax incentives and subsidizing fannie and freddie, and banks are trying their best to help their customers avoid foreclosure with relaxed loan provisions etc. However things shakeout, one thing is becoming pretty clear: it will not happen overnight. The housing market is very illiquid - things move much slower than say equity markets with lot's of liquidity. Even if prices don't tank, real estate looks like a terrible investment at this point in time. I would rather invest my money into a small business or even the equity markets at this point.
joe blo
Member
 
Posts: 10
Joined: Sun Jan 21, 2007 12:11 pm

Postby white_rabbit » Sun Feb 04, 2007 2:06 pm

doddles wrote:Question is, how/when will the bubble burst?


There's not going to be a bubble burst, but we are starting to see signs of a correction. Real estate vaules have been artificially inflated because of those who were trying to take advantage of active market growth over the past 8-10 years. Now that demand is slowing, the speculators are getting out creating a buyers market.

But it might sting for some. Sort of like how it stung to look at your 401K statement when the stock market corrected itself in the early 00's.
white_rabbit
Forum God/Goddess
 
Posts: 7487
Joined: Wed Feb 05, 2003 11:44 pm

Updates to the site are now online. . .

Postby joe blo » Mon Mar 12, 2007 1:25 pm

joe blo
Member
 
Posts: 10
Joined: Sun Jan 21, 2007 12:11 pm

Postby Oprah » Mon Mar 12, 2007 3:08 pm

Oprah
Forum God/Goddess
 
Posts: 1087
Joined: Tue Aug 08, 2006 3:20 pm
Location: On the Down Low

Re: Updates to the site are now online. . .

Postby grumpus » Tue Mar 13, 2007 11:18 am

joe blo wrote:http://madisonhousingbubble.blogspot.com/



Please, spam us some more.

What exactly are you selling here? Panic?
grumpus
Senior Member
 
Posts: 30
Joined: Wed Jul 06, 2005 11:55 am
Location: Madison

Postby joe blo » Mon Mar 19, 2007 11:33 pm

New updates are now online.

http://madisonhousingbubble.blogspot.com/
joe blo
Member
 
Posts: 10
Joined: Sun Jan 21, 2007 12:11 pm

Postby Sheppy » Wed Mar 21, 2007 7:33 pm

Whatever. There ain't no Madison housing bubble and there ain't never gonna be, Pancho. What do you think this is, Omaha? Yes, prices in Madison have skyrocketed. It's called supply and demand. Supply is limited because in case you haven't noticed our city is half water. Demand is fucking through the roof right now. Right now I'm in NYC (I finally bit the bullet and got a place for when I'm here) and I can tell you that half these real estate guys out here are practicly drooling over my holdings in Madison. "Manhattan West" is all the buzz out here, friend, and that's why prices are way up.

Let me explain supply and demand to you: if you have one house with five buyers it's going to go for a higher price than a house with two buyers. Simple. It sounds to me that you're not quite ready to roll with the big boys here. Face it, you're up against some big time players in this real estate game right now, dude. Some of these motherfuckers out here in NY are ruthless. They don't play "Midwest nice" and they want to buy your shit out from under you, and resell it at twice what they paid for it. That's how they roll. There's no fucking "bubble" talk with these cats. Just the the thrill and the glory of the deal and the big time. That's how it is.

Now, I understand a small timer like yourself needs some room. That's why I'm going to suggest to you that you think about some smaller towns in western Wisconsin like Dodgeville, Platteville and maybe even Dubuque. These towns are wide open right now so a novice can get into the game, but, mark my words, these place are going to blow up like the Fourth of July when Madison is finally all picked over by the big boys. Good luck. [/i]
Sheppy
Forum God/Goddess
 
Posts: 1130
Joined: Tue Sep 20, 2005 2:17 pm
Location: Madison

Postby uwstudent » Thu Mar 22, 2007 10:04 am

Huh? :shock:
uwstudent
Forum Addict
 
Posts: 357
Joined: Thu Apr 04, 2002 6:41 pm
Location: cowtown, wi

Next

Return to Town Vibe

Who is online

Users browsing this forum: No registered users and 2 guests

moviesmusiceats
Select a Movie
Select a Theater


commentsViewedForum
  ISTHMUS FLICKR

Promotions Contact us Privacy Policy Jobs Newsletters RSS
Collapse Photo Bar