A couple of years ago, people on bubble blogs would impatiently ask, “when will we know the bubble has burst?”
I replied that we would know when bubble blogs cease to be so popular because people will no longer be obsessed with the housing market. Even bears were “victims” of the bubble, because **we** were looking at every listing, spending all our free time on the internet and thinking about little more than when we would/could buy a house — what it would look like, how we would design or organize it, etc. Obsessing over every move in market prices and sales volume…comparing it to weeks, months, years and decades before.
Now, we are seeing the effects of the bubble wear off. Housing has lost its intense “aura”, and houses we lusted after just a few short years ago look a bit older, worn-out and the yards seem a bit smaller and have more weeds growing all around — and we recognize the amount work (and money!) that’s required to properly maintain a house. We see how buying a house can tie you down during uncertain times.
IMHO, we have entered a more “normal” market. Still not the bottom, and probably won’t be for a few years; but we have finally seen the end of the housing bubble (YAY!).
