The Housing Bubble Blog

Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.

Breaking The Piggy Bank And Throwing It Away

It's Friday desk clearing time for this blogger. "A group of B.C. condo owners say they were unfairly pressured by a national developer into paying much more than their condos are worth, while the developer secretly gave their neighbours big discounts. Jagdish Lal and several other buyers had...
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Even Sorrier Than We Thought

The Austin American Statesman reports from Texas. "The recession that wiped out thousands of jobs in Central Texas also erased $6.5 billion from the market value of Travis County properties. The 5.3 percent drop in values from 2009 was the first decline since 2003, according to preliminary figures...
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A Lot Of People Got Burned When The Market Went Bad

The Chronicle Telegram reports from Ohio. "Lorain County Clerk of Courts Ron Nabakowski announced this week that foreclosure filings for the first quarter of 2010 were down 9.7 percent from the same period in 2009. In 2006, foreclosures in Lorain County exploded, increasing 46.5 percent. That,...
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The Hog Is A Lot Smaller In California

The Orange County Business Journal reports from California. "Sitting on a seaside cliff near Corona del Mar’s Inspiration Point, 3729 Ocean Blvd. counts 7,000 square feet of spectacular views, an elevator, library, gym and wine tasting room with design flourishes courtesy of a noted area architect....
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Mass Insanity Coupled With A Large Dose Of Denial

A report from the LA Times. "The third day of hearings into the subprime mortgage mess highlighted the difficult task of the Financial Crisis Inquiry Commission in ferreting out the causes of the worst fiscal morass since the Great Depression. The session was similar to the first two days, in which...
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Were The Prices Right To Start With?

The Vail Daily reports from Colorado. "Home loans have been harder to get ever since the nation's housing bubble burst a couple of years ago. But money's still out there, for the right borrowers. Jeff Wilson of Wells Fargo Home Mortgage, was asked about the future of interest rates and whether the...
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No One Saw The Tidal Wave

It's Friday desk clearing time for this blogger. "By this point in his life, Stephen Mann should be getting ready to relax and enjoy his retirement. Instead, the retired Massachusetts sheriff's deputy is living a nightmare. His home is in foreclosure because of four mortgage refinances he says were...
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Nostalgic For A Past That Isn't Coming Back

The Tampa Tribune reports from Florida. "The mortgage crisis is causing more than just heartburn for homeowners. It's changing their moral compass. Homeowners are walking away - even when they can afford their payments. Some loot on the way out the door. Others trash the home to ruin the bank's...
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Empty Views That Hardly Anyone Can Afford

A report from News 9. "In 2008, Brian Neill and his wife Olivia found the perfect property to build Happy Hounds, a doggie daycare. But they were living in Pennsylvania at the time. They put their house on the market assuming it would sell in a few months and they could pack up and move to...
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