1. Blog post headline from today’s Atlantic.com: "Why I Think the Housing Bubble Has Not Yet Bottomed." The Atlantic’s Megan McArdle points out that a house in her neighborhood has been reduced from $499,000 to $495,000, and is now being happily touted as a great deal by the listing agent. Meanwhile, the old sellers bought in 2005 at the "height of the market," according to McArdle for $460,000.

She writes: "People’s expectations still have pretty substantial price increases baked in. Until people let go of the assumption that offering a mere 2.5 percent annual profit from the market’s peak is a real bargain, prices will not have bottomed."

First and only comment on her post: "Denial is not just a river in Egypt …"

1. Blog post headline from today’s Atlantic.com: "Why I Think the Housing Bubble Has Not Yet Bottomed." The Atlantic’s Megan McArdle points out that a house in her neighborhood has been reduced from $499,000 to $495,000, and is now being happily touted as a great deal by the listing agent. Meanwhile, the old sellers bought in 2005 at the "height of the market," according to McArdle for $460,000.

She writes: "People’s expectations still have pretty substantial price increases baked in. Until people let go of the assumption that offering a mere 2.5 percent annual profit from the market’s peak is a real bargain, prices will not have bottomed."

First and only comment on her post: "Denial is not just a river in Egypt …"

2. Blog post headline from today’s Businessweek.com: "Home Prices Have Hit Bottom." BusinessWeek columnist Chris Palmeri points out three examples that prices have stabilized. One of them references a friend who made a $1.5 million, all-cash offer on a Hollywood Hills home. While the seller had to lower his price by $200,000, he still got multiple offers. Palmeri seems to think sellers are lowering their prices by small amounts, but not "crippling" figures to finally move their properties.

First comment on his blog post: "To the contrary, home prices continue to slip and foreclosures are increasing in Florida. While I cannot speak to California, I do not buy into the idea that national home sales are increasing outside of speculator sales."

3. It’s questionable whether either blog post definitely makes the case for either argument. But we do know this: This dog does some mighty fine squats.

Reposted with permission from Curbed.com. Click here to view original post.

Copyright (c) 2009 Curbed.com LLC

***

What’s your opinion? Leave your comments below or send a letter to the editor.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Will you attend ICLV virtually or in-person? The agenda is packed with stellar speakers and sessions.Learn More×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription