How bad is the housing market? John Karevoll of DataQuick and Chris Thornberg of Beacon Economics (he was formerly with the Anderson Forecast) offered differing views on Larry Mantle's "Airtalk" on KPCC. Karevoll is hesitant about drawing too much from the recent batch of weak sales reports, while Thornberg, who predicted a housing bubble a couple of years back, expects tough times ahead. But even the bearish Thornberg doesn't expect a plunge in prices. Here's the audio.
More housing stuff: Franklin Avenue notes Bravo's new reality show, "Million Dollar Listing," which takes viewers into the "high stakes, cut-throat world of real estate and closing the deal" in Los Angeles. It airs Aug. 29. Here's a synopsis:
It's the personal dramas, the insanity of it's quirky cast and the insider tips aspiring homeowners and home buyers will learn that will keep viewers glued to the television each and every week. The episodes are hour-long, self-contained stories that resolve every week with the sale of a single home. We'll see the intense work an agent puts into moving the hot listing of the week, along with the mental, physical and comical juggling acts required to keep their personal lives afloat. The drama heats up as homeowners and potential buyers lose their minds and possibly their shirts as they handle the pressure of one of the largest and most emotional transactions of their lives. It's real estate at the speed of television.