Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
Visit Housing Bubble Blog
Dumping A Lot Of Money In A House Losing Value
Posted on May 01, 2008
The Citizen Times reports from North Carolina. The bursting of the real estate bubble took a big toll on the region s homebuilding industry in the first quarter of 2008 as the number of building permits issued for homes and condominiums in Buncombe County fell by almost half. In most markets, the level of production (of homes) far exceeded the capacity of the market to absorb it, said Dale Akins, CEO of The Market Edge. The number of existing homes sold in the area has been on the decline since fall 2006. A major factor behind that decline is poor home sales in other markets li...
Original article link
Subscribe to Housing Bubble Blog