This Glut Is Going To Exist Indefinitely

Equities.com reports on Arizona. "The Fed's unprecedented mortgage subsidy has helped the market make a dead-cat bounce since the crash of 2008. However, while low rates have propped up prices, sales of existing homes have fallen in seven of the last eight months. In Phoenix, where home prices have...
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The Floor Falling From Beneath Their Feet

Shanghai Daily reports from China. "Shanghai's new home market remained sluggish for a third straight week. As of Sunday, 315,000 square meters of new homes were sold in Shanghai in May, or a daily average of just 17,500 square meters, according to Uwin data. That compared with 761,300 square...
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The Frenzy Is Discouraging Some Would-Be Buyers

The Mercury News reports from California. "In a milestone for the Bay Area housing market, April's home prices reached the highest levels since just before the recession began, with Santa Clara County hitting a new peak in records going back 26 years, DataQuick reported. With too many buyers...
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The Key Lesson Hasn't Been Learned

Readers suggested a topic on the FHFA. "I think there can be only one weekend topic this week, the nuclear bomb the PTB tried to set off: Will Mell Watt be able to keep the bubble going? I don’t think it will be enough. Last time we had an (apparently) robust economy, a much better jobs picture,...
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Greed Is A Powerful Force

It's Friday desk clearing time for this blogger. "The federal agency overseeing mortgage insurance giants Fannie Mae and Freddie Mac signaled a robust federal involvement in the mortgage markets for the foreseeable future. But without waiting for Congress, Federal Housing Finance Agency Director...
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Sellers Are Afraid They Won’t Get The Peak Price

CNBC reports on Virginia. "Home prices are moving so far, so fast, that potential home sellers are giddy with value. 'I even hear them say that prices are skyrocketing,' said Jeremy Cunningham, a northern Virginia real estate agent with Redfin, a real estate brokerage. 'When you ask them what their...
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Selling Their Products At Prices Lower Than Cost

The Beijing Review reports from China. "Returning from a stint as a visiting scholar at Cambridge University, Wang Shi, didn't change his straightforward style of communication. 'People can no longer expect to be laughing all the way to the bank simply by purchasing properties, and the mushroom...
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Overly Ambitious Agents And Hungry Sellers

The Manteca Bulletin reports from California. "The closing price for the typical Manteca resale home today stands at $266,200. Statistics from Zillow show that the median selling price has increased 38.9 percent over the past year. This is important because the vast majority of first-time home...
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Too Many Buildings And Not Enough People

The Calgary Herald reports from Canada. "The average Calgary homeowner is expecting a 47 per cent return on investment on their property, according to a new poll released by BMO. The report said 33 per cent of Calgary homeowners believe their property has doubled in value from the time of purchase....
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