Word: boom
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Dates: during 2000-2009
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...worse, but in certain mid-tier markets--like Cincinnati, Ohio; Dallas; Milwaukee, Wis.; Salt Lake City, Utah--prices didn't appreciate as quickly as in the hot zones, and aren't likely to fall as fast. In places like Phoenix, Ariz., Las Vegas and Los Angeles, epicenters of the boom, look out below...
...which he bought for $280,000 in 2002). It wasn't easy. Hymas relandscaped the yard, spent $7,000 on kitchen upgrades and eventually dropped the price by $18,000. "People around us still live with a heyday mentality," he says. "They got used to the boom and were asking ridiculous prices." He made a command decision not to be greedy and moved...
Whether the eight-year boom was really a bubble remains a matter of debate among economists. No less a sage than Alan Greenspan started warning of "froth" in the market in May 2005--and the Fed has raised interest rates 17 times, at least partly to dampen speculative housing activity. Yet the party outlasted several years' worth of doomsday predictions. And for every bubble guy, there's one who thinks prices overall are about right, given mortgage rates that are still low by historic standards and other measures of affordability. "My view is that the run-up of home prices...
...federal government “absolutely, outrageously flawed,” Horne says he still believes in the future of New Orleans. With tax credits and federal aid now pouring into the city, Horne says, “New Orleans could be on the cusp of another boom.”Horne, who was a member of The Advocate at Harvard, says his time at Harvard prepared him for the challenges of Katrina because the civil unrest of the late sixties prepared him for “reporting on anarchy, chaos, disintegration, and failures of leadership?...
There's a skate-park building boom going on right now, and new lines--the kind that skaters course along and the kind that designers draw--are what it's all about. "Five years ago, there were 200 skate parks," says John Bernards, executive director of the International Association of Skateboard Companies. "Today there are over 2,400, with many more under construction." During those same years, skate-park design reached a plateau of sophistication that you might not have expected from guys who wear really baggy shorts. As skaters have moved into the role of designers, establishing firms like...