It's Official: The Housing Bubble Has Popped

[QC]

At least in Sacramento--check out this ad below for astounding reductions in price of 25% and more on McMansions.

http://newspaperads.mercurynews.com/ROP/ads.aspx?advid=128467&adid=2613016&cat=3461

Of course, they're still overpriced, but these are some amazing price cuts. I thought it would take several years to see the likes of this.

[tech3149]

1. pretty good prices

compared to the townhouse I had in NJ

[cliss]

2. Wow, that's quite a bit of house

for the money! Check out that Spanish Casa. Now, if I could just buy the dang thing, prop it up on metal supports, and bring it up to Portland.

= cool 200% markup.

[Rainscents]

3. Where is link? There's no link.

[Inland]

4. No ad loaded for me. nt

[QC]

5. Try this alternative link:

[kineneb]

8. dang, that is a drop for Sacto area

prices are flat-ish here in Lake Co. (CA), but I expect to see them heading down somewhat. We are still getting the slop over from the Hwy 101 corridor/Santa Rosa markets. I could see it coming last spring when I stopped getting relocation info requests at a Chamber of Commerce.

[Inland]

6. It's rare to even see a price drop mentioned, much less a figure.

And, actually, the prices don't seem out of line for western Chi burbs, and we never had a bubble.

[GrumpyGreg]

7. House in Hull MA overlooking the water listed for $1.75 million

now down to ONLY $975,00. Quite a drop!!!

This was in the Boston Globe today.

I thought it was great news!