Of all the real estate blogs out there, Calculated Risk has to be one of the most impressive. First of all, it’s not really a housing blog, but more of an economics blog that just so happens to talk about housing a lot because it’s such a major economic deal.

So much of an economic deal, in fact, that the guy who runs Calculated Risk called the housing bubble “the biggest economic story of 2005” in a recent blog post.

As for 2006, Calculated Risk had a different assessment:

I expect the slowdown to be a form of Chinese water torture. Sales for both existing and new homes will probably fall next year from the records set in 2005. And median prices will probably increase slightly, with declines in the more “heated markets”.

That’s an interesting take coming from someone who’s been so vocal about what a big story the housing bubble is. It seems to fall more on the “soft landing” theory of the housing market than the bubble bursting theory.

WILL CARLESS

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