Haunted by the Housing Market? Compare housing market Halloween 2000 vs 2010

Originally created for Halloween in 2002, readers are invited to (1) update this slideshow before Halloween 2010, and (2) use slides from this decade-long retrospective on the housing bubble to save money on any offer you submit this Fall or Winter.  See earlier blog post for more information on The Real Estate Cafe’s “Menu of Talking Points.”

Related Articles

Wall Street “spooked” by falling housing index

Brainstorming about user generated content / video contest:
Haunted by the Housing Market

The Real Estate Cafe has maintained an excel spreadsheet comparing
housing market conditions from 2000 to 2007.  The original version was
prepared for Halloween 2002, and resulted in a slideshow called,
"Haunted by the Housing Market."

As Halloween approaches this year, and NPR reported yesterday that Wall Street was "spooked
by a sharp drop in housing prices," we are thinking about sharing the
spreadsheet and inviting others to update the "Haunted by the Housing
Market" slideshow.

Better yet, what would it take to create a contest with different categories for user-generated content, like "Funniest Housing Bubble Video," "Best slideshow attached to an offer" (samples available),
etc.?  We’re open to putting our content on the web so others can
"mash-up" images, statistics, quotes (both audio and text), etc.

Any good models and potential sponsors out there?

Cross-post:  "Haunted by the Housing Market" originally mentioned as comment in this blog post:
Wait 2.0:  Negative cycle creating marginal or mega-savings for patient homebuyers?

Use the following quotes to launch "Haunted by the Housing Market."

NPR:  The closely watched S&P Case-Schiller housing index earlier this week spooked Wall Street when it showed a sharp drop in home prices — down more than 3 percent in the second quarter alone. 

Karl Case, a housing economist who helped develop the 20-year-old index, says it’s the largest price decline since the inception of the index.

Economists expect total declines of about 10 percent throughout many parts of the country — and up to 25 percent in some of the formerly hottest markets.

If job creation drives housing prices, what is preventing the Boston housing market from falling?

Add to unemployment / job creation section of The Real Estate Cafe’s ongoing data collection / spreadsheet of factors underlying the housing bubble.  This information has been archived periodically since 2000.  Initially, a snap shot was taken each year just before Halloween for an annual update of our slideshow entitled, Haunted by the Housing Market.  During 2005, we began making updates more frequently as evidence of the coming slide in housing prices began to mount locally and nationally.  While it’s hard to miss the fact that some of "the biggest employers in town are leaving," as the Boston Herald article reports, this statement is stunning and more including in one’s prediction of where housing prices are headed in 2006 and beyond:

"The roughly 740,000 jobs in the Greater Boston area is still more than
80,000 shy of its 2000 peak. And it may take years more, perhaps as
long as a decade, before those boomtime employment levels are seen
again, said Nordby. Only by 2015 will the Greater Boston area boast
roughly the same number of jobs, 821,000, that it had in December 2000"

The Housing Bubble 2: ‘Sky-High Housing Costs’ Drive Away Boston Jobs.

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