So, when you all posted 'Housing Bubble' posts I used to feel smug.

[niallmac]

After all, I live in Boise and the demographic dynamics of the day all recognize
that Boise is experiencing a hugh influx of immigrants from Callifornia and elsewheres
and so it was assumed we are immune to a "Housing Collapse."

That makes todays headlilne in the Idaho Statesman all the more curious.
I had heard no hints of this before today.

http://www.idahostatesman.com/apps/pbcs.dll/article?AID=/20060824/NEWS0203/608240360/1033

[EvolveOrConvolve]

1. I know quite a few realtors who knew this was coming

They don't talk about it, because the bubble could be burst by simply talking negatively about the housing market in the Treasure Valley. The bubble actually burst about six months ago, but the Statesman just didn't pick up on it.

For the most part, realtors are very optimistic about the years ahead. Housing prices will get back down to normal which means that it's easier for people to get into the house they want. When that happens, house sales will go back up.

Sales of existing homes are the most important thing for the health of the housing industry, and this housing slip should help the market to normalize, which increases the number of homes being sold in the long run. Contrary to popular belief, the bubble bursting is actually a good thing for the average person. The Idaho Statesman is sensationalizing the story because that's what the media does.