BostonBubble says Boston-area real estate prices for June 2007 are 3.79% down from June 2006, 9.37% below their peak in June 2005, and in fact slightly below the 2003 benchmark. That kind of cheers me up, because it implies a movement toward sanity.
Piggington has a clever chart showing a stunning drop in construction jobs in San Diego. That kind of makes me sad, because it means a lot of people have lost a lot of jobs, and it’s going to have a ripple effect on everything else.
This weekend, MeeVee will be featuring a short article I wrote on “Flipping Out,” a new Bravo show about a neurotic real estate investor. My thesis is that the show isn’t anything new (it’s the same premise, and nearly the same name, as “Blow Out” and “Work Out”), but that it does reflect a change in the way people feel about real estate.
That feeling, if you hadn’t noticed, is less positive than it used to be.