
Portrait of a Bubble - pg
http://www.trulia.com/real_estate/Phoenix-Arizona/market-trends/
======
pg
If you look city by city you can see how localized the housing bubble has
been. E.g. the median price in Mountain View is now where it was in 2005, just
as in Phoenix, but the intervening bump is much flatter.

[http://www.trulia.com/real_estate/Mountain_View-
California/m...](http://www.trulia.com/real_estate/Mountain_View-
California/market-trends/)

Here's the town with the highest foreclosure rate in the country, Stockton,
California:

[http://www.trulia.com/real_estate/Stockton-
California/market...](http://www.trulia.com/real_estate/Stockton-
California/market-trends/)

All around the edges of town are new subdivisions in the middle of being
built:

[http://maps.google.com/maps?f=q&hl=en&geocode=&q...](http://maps.google.com/maps?f=q&hl=en&geocode=&q=stockton,+ca&sll=35.884694,-101.505158&sspn=60.802064,64.951172&ie=UTF8&ll=37.905233,-121.306915&spn=0.028985,0.031714&t=k&z=15)

These guys are going to be lonely:

[http://maps.google.com/maps?f=q&hl=en&geocode=&q...](http://maps.google.com/maps?f=q&hl=en&geocode=&q=stockton,+ca&sll=35.884694,-101.505158&sspn=60.802064,64.951172&ie=UTF8&t=k&ll=38.050795,-121.382017&spn=0.014734,0.022831&z=16)

~~~
ojbyrne
On the same theme, not much of a decline in NYC:

[http://www.trulia.com/real_estate/New_York-
New_York/market-t...](http://www.trulia.com/real_estate/New_York-
New_York/market-trends/)

Especially compared to the one in 2003.

~~~
jgrahamc
There's something very wrong with that 2003 picture. If you look at the
corresponding number of sales you see that there were less than 10 sales in
2002 and 2003. That can't possibly be correct (even taking into account a post
September 11, 2001 slow down) and data pre-2002 looks fishy too because it's
order of 100s of sales.

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kqr2
If you liked those graphs, you will probably enjoy the graph of land prices in
Japan when they had their housing bubble:

<http://www.oftwominds.com/blogoct06/japan-bubble.html>

------
jonknee
Interesting that sales seem to be picking up and that seems true in many
markets. Perhaps that's a good sign.

~~~
boris
Based on the fact that prices are still declining, I would guess those are
forced sales. A good sign is when prices stop falling.

