The Sound We Are Hearing Now

It's Friday desk clearing time for this blogger. "President Barack Obama took aim at the housing crisis during his first 100 days with a broad plan to stabilize the market by trying to prevent foreclosures, pushing down mortgage rates and offering a handsome tax credit to new buyers. But has the...
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Overzealous And Overextended In California

The LA Daily News reports form California. "In March, sales of previously owned single-family houses jumped 64 percent statewide, while the median price fell 39 percent to $253,050, the California Association of Realtors said. The median price was 2.2 percent higher than February's $247,590 median...
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Guess What? Now It’s Tomorrow

The New York Times reports on Arizona. "Phoenix has achieved the unwelcome distinction of becoming the first major American city where home prices have fallen in half since the market peaked in the middle of the decade, according to data released Tuesday. 'Even during the Depression, I’m not sure...
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Contagions Of Excitement

The Seattle Post Intelligencer reports from Washington. "Yale Economist Robert Shiller...who characterized the tech and housing run-ups as bubbles before they popped...delivered the keynote address at Seattle Pacific University's annual Downtown Business Breakfast. Markets really react to...
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Punch-Drunk On Real Estate In California

The Mercury News reports from California. "A new report pinpoints late 2006 as the time when the California mortgage market was most out of control — with some mortgage lenders acting so recklessly that two-thirds of the loans made during that time ended up in default. More than 9 percent of...
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The Real Estate Market Led Us Into This

The Hartford Courant reports from Connecticut. "George and Susan Hitchcock thought they were doing the responsible thing. They could no longer afford the mortgage on their ranch house in Farmington so they put it up for sale, knowing they owed more than the house was worth. When they finally got an...
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The Bubble Mentality In Florida

Florida posters discussed what part of the state would be the best place to see the housing bubble. "Miami or Ft. Myers? Largest inverntory and steepest declines." A reply, "Palm Beach (island) isn’t really a condo haven. West Palm Beach is where the condos got out of control, they probably have...
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It's What Has To Happen

It's Friday desk clearing time for this blogger. "Fannie Mae, Freddie Mac, many banks and certain states had frozen foreclosures in a run up to details of President Obama’s rescue housing plan. Now companies are flooding the market with eviction notices. Last month Michael Taylor and his family...
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