When Do You Think the Bubble Began in Your Area? (investment, sale)

[acegolfer]

I'll go first.

There has been no bubble in Buffalo, NY. We are lucky if the home appreciated by the inflation rate.

[Brandon Hoffman]

No bubble in Columbia, SC but we had a little slowdown in fall that I blame mostly on the national market and the media scaring people. Many people just sat on the fence waiting to see and when they realized people were still buying selling it picked up again. We do have a longer absorption rate but it only went from 3.7 to 4.3 months from this time last year to this time this year.

[ViewFromThePeak]

Since the problem is macroeconomic, it is inevitable in every area of the country. Some of the most desirable areas such as NYC, Miami Beach, San Fransisco, etc might be spared the full wrath due to foreign investment. Nevertheless, EVERY corner of America will drop to some extent. Historical areas, "unique" homes, everyone. It is only a matter of time.

Being in Raleigh I have some extra time to unload my property since the impact here has been delayed. I'm quickly fixing up the home for a quick sale so I can get out of dodge in this whole debacle. Equity refugees are still trickling in, but the drop is very much noticable. Make no mistake, the slowdown here has started and while we're late to the party, we will participate in the drop. Endless PR campaigns (billboards saying "NOW is a GREAT time to buy a home!", Mark Roberts from WRAL on a cheesy infomercial with a NAHB shill), suppressing negative threads, etc etc.