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March 22, 2006
Boston "Bubble Hour" to discuss February housing statistics
The Massachusetts Association of Realtors (MAR) will announce their official February housing statistics tomorrow, Thursday March 23, 2006; and once again, a number of leading bubble bloggers in Boston invite you chat about them as soon as they are released and press coverage unfolds.
Would you believe the first "Bubble Hour" generated 36 pages of content including over a dozen graphs submitted by a number of bloggers and savvy consumers? If you missed that chat, the transcript and graphs of January 2006 housing statistics are accessible online but comments or questions should be posted below.
Better yet, why not participate in our second Bubble Hour? (WILL REOPEN CHAT BETWEEN 9PM AND 10PM THIS EVENING.) Please let us know if you'd prefer to chat online or meet offline by emailing [email protected]. Either way, you can enrich the discussion by posting your question below, or submitting them privately beforehand. Graphs are our specialty so let us know if there is any data you'd like to see presently visually. As before, chat participants with different perspectives --- both geographically and with respect to their opinion about the housing bubble -- are earnestly sought. Homebuyers, sellers, professionals, and press are all welcome.
We'd be particularly delighted if someone from MAR joined us to answer questions directly, too. After (1) single family home sales fell to their lowest volume in ten years during January and (2) year-over-year prices fell for the first time in 115 months, my guess is that MAR will say that housing rebounded in February 2006. More evidence of a "soft landing," industry spin, or a mild winter? We want to hear your opinion.
Bill Wendel | 08:32 PM in Bubble Hour, Market trends, Price trends, Real Estate Bubble | Permalink
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If housing statistics in Massachusetts do rebound locally, February sales at the national level are headed in the opposite direction according to this late breaking story on Bloomberg. Should make our chat all the more interesting:
http://tinyurl.com/n2rvh
The dollar may weaken on speculation a report today will show the U.S. housing market cooled for a sixth month, adding to signs 14 interest-rate increases by the Federal Reserve are slowing the economy.
The report will probably show home re-sales fell to a two- year low in February, according to a Bloomberg survey, and may spur traders to scale back bets on the Fed raising its 4.5 percent benchmark interest rate twice more. Policy makers are watching housing-market growth, which has fueled consumer spending, to decide how many more times to lift borrowing costs.
...A slowdown in housing sales will cause "the market to back off from expectations of a 5 percent Fed funds rate, which should see the dollar lower.''
Home re-sales probably declined in February to an annual rate of 6.5 million from January's 6.56 million, according to the median of 60 economists in a Bloomberg News survey.
Posted by: RealEstateCafe | Mar 22, 2006 11:22:23 PM
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