Well, it looks like the housing bubble is bursting in Anchorage Alaska.

That’s right Anchorage, which is pretty remote, unless you live in Ketchikan.

Time on market has more than doubled.

Same thing with Hawaii, which geographically is one of the most remote locations on earth.

This is not a real estate crash. This is an easy credit, blood the economy with liquidity crash. That’s why this is not local.

People don’t buy houses on price, they buy it on monthly payments, and mortgages are still about 3% lower than historical norms.

The difference from 2 years ago is that the low rates created a frenzy, where people were afraid that they would never own if they did not buy right now.

Now there are people who believe (correctly) that if they wait, they will get a better deal.

That’s why you are seeing this in places like Anchorage, Honolulu, Wichita, and Indiannapolis. It’s a nation wide phenomenon.