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10-13-2008, 09:14 PM
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Senior Member
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Join Date: Dec 2007
1,387 posts, read 615,776 times
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What happened in 2Q 2005 with housing prices?
Hi All,
Was looking at data for Montgomery county and noticed a severe price spike in housing prices in several towns in Montgomery county in second quarter of 2005.
What was going on that drove prices up and down so fast?
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10-14-2008, 06:38 AM
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Senior Member
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Join Date: Aug 2007
Location: Between Frederick and Westminster
193 posts, read 191,669 times
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Housing bubble.  |
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10-14-2008, 06:04 PM
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1,387 posts, read 615,776 times
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Quote:
Originally Posted by cutgarden
Housing bubble. |
That much in one quarter of 2005? Haven't seen a spike like *that* in any of my other casual research. Wow. Why so up and down in Md? |
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10-14-2008, 06:31 PM
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Senior Member
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Join Date: Oct 2006
Location: Bethesda, MD
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The large spikes were fueled by the housing bubble and subprime loans. It was sheer insanity. You had townhomes in Germantown selling for $400K when they were $200K two years prior. No one thought this was madness, because people kept thinking that prices could never fall, despite the fact that incomes did not keep up with house prices.
Today? The average and median prices in Montgomery have fallen.
http://www.mris.com/reports/stats/route.cfm |
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10-14-2008, 06:36 PM
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1,387 posts, read 615,776 times
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Hi TrippingJay,
Well, yes, almost everywhere has seen the bubble come and go. But when I look at the spike in Md. it was literally in 1 quarter of 2005. Every where else I spot check it's more like a curve up and down.
Just take a look at the graph for Montogomery County here on city-data. Then compare it to say somewhere west coast in "The OC" like Mission Viejo or Irvine.
Yet, the west coast markets are often reputed to be the most volatile.
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10-15-2008, 04:24 AM
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Senior Member
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Join Date: Nov 2006
207 posts, read 205,890 times
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Is it possible that it's just bad data?
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10-15-2008, 11:41 AM
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Senior Member
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Join Date: Oct 2006
699 posts, read 577,156 times
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Quote:
Originally Posted by JMadison
Hi All,
Was looking at data for Montgomery county and noticed a severe price spike in housing prices in several towns in Montgomery county in second quarter of 2005.
What was going on that drove prices up and down so fast?
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Yup the good ol housing bubble when prices went literally through the roof for now apparent reason. Other than the mortgage companies started handing out these interest only loans and people were buying more expensive houses than appraisers started appraising the houses higher and then BOOM the bubble burst and luckily I sold my house in MD just as the bubble got extremely large and literally the month after settlement it burst. I got lucky. |
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