Now The World Is A Different Place

A report from the Star Tribune. "Warren Smith, chief financial officer of 1st American State Bank of Minnesota, sounded exasperated as he rattled off a long list of loans for commercial real estate projects that threaten to sink his bank. There was 'Gold Mountain,' a planned community of...
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Greed Overcame Logic And Rational Behavior

A report from Arkansas Online. "The River Market Tower in downtown Little Rock is having a tough go of it. Only 23 of 134 condominium units have been sold, according to public records. The developer, Moses Tucker Real Estate, announced in July 2007, when construction began, that 27 units had been...
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The Bust Is A Story Of A Price Bubble

It's Friday desk clearing time for this blogger. "To get a sense of the fears and frustrations of everyday people, WBUR invited a diverse group of Massachusetts residents to come into our studios and share their experiences. Helen Ramirez: office manager for Chelsea Police Department...is coping...
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Driven By Things That Weren’t Real

The Herald Tribune reports from Florida. "The number of people preparing to buy a home in November fell sharply in the latest sign that the housing market, which had been rebounding strongly, may be headed for a 'double-dip' downturn over the winter. The figures echoed what home builders saw in...
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At First It Was A Bonanza, Then It All Went To Hell

The Napa Valley Register reports from California. "Napa issued building permits to 2,456 residences during the decade, including two large, upscale apartment projects and a growing number of attached townhomes. With builders hammered by the recession, the city issued just 15 residential building...
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HBB Rates The Media: North-West

We continue to review the media; in the north-west. The good: The Oregonian, May 2005: "Portland's median home price has grown from $170,100 in 2000 to $210,000 at the end of 2004. By the end of March, it had surged again, to $223,000, according to the Regional Multiple Listing Service. That's a 31...
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New Year Housing Bubble Predictions

What are your housing bubble predictions for 2010? Some from one year ago. "I think it will be so bad in 2009 that no statistics are even made. Like the lost years. The dark ages of the housing market in California lasts until 2012. I’m off to burn a witch." One sees this. “It was a rolling bust,...
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One Word For The Decade

I realize this isn't the end of the decade, but so many papers have articles like these, I decided to run with it. Tomorrow we'll have a predictions thread, and this is a Thursday desk clearing post. "This was the year, finally, that promised relief, opening with foreclosure moratoriums and a...
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