Forcing Buyers To Become Desperate

A reader in Florida asks this question. "Should I buy a house, stop paying the mortgage, pay the taxes and… wait?" The Jacksonville Business Journal. "There are still bank-owned properties coming on to the market, mostly at the same rate they’re being absorbed, Florida Realtors chief economist John...
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A Housing Bubble Built On Sand

It's Friday desk clearing time for this blogger. "With inventory down and prices rising, buyers are exhibiting the kind of frenzied behavior not seen since 2005. It is not enough that they are mobbing open houses, bidding thousands of dollars over asking price, and making all-cash offers. They are...
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Buyers Want In Quickly

Bethesda Now reports on Maryland. "The luxury housing boom delayed by the Great Recession is in full swing in Bethesda. At the annual Greater Bethesda-Chevy Chase Chamber of Commerce’s Real Estate Update on Friday morning, realtor Jane Fairweather said the first wave of resales in Bethesda’s...
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Cheap Money Is Still In Play

The Tampa Bay Times reports from Florida. "Is this a new bubble, or what? It's easy to see how today's housing market could trigger flashbacks to the frothy mid 2000s boom. Bidding wars are rampant, deals are quick, and investors and flippers abound. But economists say there are plenty of reasons...
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The Out-Of-Town Buyers Have Got Some Equity Back

A report from the Idaho Statesman. "The flipping game quickly dried up in Boise in 2009 and 2010, said Krysta Pape, an agent at John L. Scott Real Estate in Boise by day and a flipper for her own investment purposes by night. From what she can tell, flipping remained almost dead until 2011, the...
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They Thought The Checkbook Would Be Open Forever

A housing bubble report from around the world. "Cash-strapped Mexican homebuilder Corporacion Geo SAB said late Wednesday it has reached a 'standstill' agreement with its principal bank creditors that would allow the company to restructure obligations with the banks and secure credit lines to...
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Urgency And A Trivial Purchase

I suggested a topic on current market conditions. "It’s interesting how the media and REIC have embraced things like flipping houses so casually. Or making written offers with no contingency to the conditions. Pocket listings. Besides the obvious lack of consumer protection, can’t these people...
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A Sign Of Desperation

It's Friday desk clearing time for this blogger. "Some 1.7 million borrowers have missed several payments on mortgages backed by the U.S. government, the inspectors general of the Federal Housing Finance Agency and Department of Housing and Urban Development said in a joint report. 'Not only are...
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