Monday, August 6, 2007

When the Bubble Pops

The bubble is popping and the pundits are going nuts about it. On Wall Street folks like Jim Cramer are going crazy with the lending industry.

So when the housing market is down, what are the good investments? Apparently in New Jersey its housing near commuter rail stations. Easy access to transit and less housing cost is where people are going. According to realtors:

Homes along many of Central Jersey's commuter rail lines have a better chance of being sold than residences in more rural or suburban areas, according to real estate experts and housing statistics.

That's one of the conclusions drawn from a study of the sales numbers, which paint an uneven -- and depending upon where you live, unsettling -- picture of the Central Jersey housing market.

In some towns, the market is actually improving over last year, while in other areas, homes are languishing on the market even longer than in 2006, when the real estate bubble burst in earnest. Prices began to get soft in August 2005.

Hat Tip to Atrios & The Big Picture

1 comment:

daniel said...

Good info…rising credit rates are affecting the market due to the America’s over-use on credit plays a significant factor in the housing market. I recommend this report on home sales that is useful…

Home Sales Report: What’s Left?