I’ve been addicted since stumbling on the site (via reference LA Times online article, I think) two weeks or so back.
I find it fascinating from my spot here in Alexandria, Virginia (close-in suburb of Washington, DC) – lots of similarities in terms of market psychology, overuse of ARMs and exotics, and condo inventory increasing in DC and close in suburbs. I think there is less sheer flipper and speculation activity than some of the frothiest markets – but we’re still due for some rude awakenings around here soon.
I’m addicted because the changing market is just going to be such a slow motion train wreck – anyone who really takes a close look can see it coming – and it’s going to really be interesting to see how it shakes out and how it ripples through the economy and society. I don’t relish the pain it’s going to cause some folks – but damn, it’s going to be so big that you can’t help but watch!
