baltimoresun.com

« Taxes, creative selling techniques and more | Main | How-to Monday: Finding typical asking prices »

October 8, 2007

Demoeconology, homelessness and "our prices are innnnnsane!"

Bloomberg columnist John F. Wasik says today that the housing bubble burst because of "demoeconology" -- demographics, economics and mass psychology. He also opines:
The U.S. housing bust is like a leaking ship. You may still be able to stay afloat, depending upon where and how bad the holes are.

The AP reports on the growing problem of homeless families in Massachusetts, one of the few states with government numbers on families in shelters:

About 1,800 homeless families were in Massachusetts shelters last week -- up from 1,400 in June 2006 and just under 1,200 in June 2005, according to state figures. There are more families in shelters now than at any time since the inception of the state's family shelter program in 1983, according to the Massachusetts Coalition for the Homeless. 

The Washington Post reports on builders selling homes in the Washington area like "car dealerships and department stores": by slashing prices. It offers the example of Won-Ki and Janice Choi, who were interested in a Ryland house priced at $536,449. The company put the house up for auction:

The minimum bid for the 2,068-square-foot Fairfax County home was $429,999. Won-Ki Choi wrote his name down minutes before the auction was scheduled to end at 3 p.m. He was the only bidder.
Posted by Jamie Smith Hopkins at 7:27 AM | | Comments (0)
        

Post a comment

All comments must be approved by the blog author. Please do not resubmit comments if they do not immediately appear. You are not required to use your full name when posting, but you should use a real e-mail address. Comments may be republished in print, but we will not publish your e-mail address. Our full Terms of Service are available here.

Please enter the letter "e" in the field below:
About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
Baltimore Sun articles by Jamie
Follow @realestatewonk on Twitter
-- ADVERTISEMENT --

Most Recent Comments
Baltimore Sun coverage
Baltimore Sun Real Estate section
Archive: Dream Home
Dream Home takes readers into the houses of area residents who have found their ideal home.
Maryland home sales
Find out where homes are selling in your neighborhood, or search for sales from across the region.

Top-selling property
A look at some of the most expensive homes in the area and where they are located.
Follow the Wonk on Twitter
Stay connected