Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

September 26, 2008

The foreseeability of the bursting bubble

by @ 5:03 pm. Filed under Real Estate

This blog was created on December 23, 2003. Almost from the beginning, one of our regular topics has been the rise and fall of the housing market. Revisionists will say that no one could see the current financial crisis coming, but a review of our posts on the topic show some felt unease about housing years ago. A compilation of these posts is here and some highlights follow:

    January 12, 2004 - “I’m no economist, but something about this economic “recovery” just hasn’t seemed right.
    February 29, 2004 - “Lately, however, things have been quite slow . . . due almost entirely to the collapse of the refinance market that began last fall.”
    May 20, 2004 - “Economists predict that this will cause a slight slow down in home sales and will begin to depress the value of real estate.”
    October 12, 2004 - “The problem with this approach is that it makes it twice as likely that you will lose your home to foreclosure.”
    October 20, 2004 - “This could spell trouble if housing prices fall.”
    December 6, 2005 - “The problem with both of these situations is that heavily-leveraged homeowners have no equity cushion.”

    The problem was apparent more than four years ago. Recent events should come as no surprise.

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