Hotpads.com’s foreclosure heat map is a beautifully programed, web 2.o application…that will make you crap you pants. We all enjoyed watching our “zestimate” double during the mania of ‘06. But its a lot less fun to see houses in your ‘hood selling 35% less than what it was worth 2 years ago.
Its like a game of monopoly, gone horrible wrong. Looking good, M-town.
I would not count on a bottom anytime soon. This was a speculative boom, not driven by demand like the post-WWII population boom seen in the graph below. We are going to have a long grind down the other side of this anomaly. If there’s a silver lining, perhaps “Flip This House” will be cancelled.
http://hotpads.com
April 11th, 2008 at 9:33 am
This was the best post about HotPads…EVER!
Thanks and sorry about your pants.
douglas pope
co-founder of hotpads.com
April 11th, 2008 at 2:47 pm
Thanks Douglas, its an incredible site. I was at a social media meetup last night, where strangely there were a ton of real estate agents. I had the presenter bring it up on the big screen, and they loved it (then face in the room got little more straight when it dawned on them how bad the market is).
It’s a great piece of data driven software. Its too bad the data is so scary.
April 14th, 2008 at 3:39 am
Holy frickin crap batman! That’s like a candy land of foreclosures. Entire neighborhoods. Holy crap.