The Housing Bubble Blog

About this time of the year in 2005, we discussed the possibility of a housing bubble related holiday bust. A bit premature, but what about 2008? And what of the various local housing markets in light of the unprecedented economic events that are unfolding? Anecdotal insights from your holiday...

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A report from the Associated Press. "Existing home sales in the Northeast dropped more than 9 percent in October from last year, while the median sales price in the region sank 5 percent to $277,000, the National Association of Realtors said Monday. Michael Lynch, regional economist at Global...

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The San Fernando Valley Business Journal reports from California. "Gangi Development of Burbank has decided to go the auction route with their new Glendora townhome development. On Dec. 14, the companies hope to sell all 20 of the units in the Vermont Avenue Lofts complex in one fell swoop. Given...

The Herald Tribune reports from Florida. "Mark Brivik, a real estate investor who made a living buying, fixing up and selling houses on Longboat Key and other parts of Southwest Florida, has filed for Chapter 7 bankruptcy protection. Brivik distinguished himself from other investors during the past...

Please visit the HBB Forum. Post off-topic ideas, links and Craigslist finds here.

Please visit the HBB Forum. Post off-topic ideas, links and Craigslist finds here.

The Ukiah Daily Journal reports from California. "Worried consumers, investors and home owners are looking at today's economy and pulling back on financial adventures. One of those adventures is real estate, where the risk factor was considered nil just a few years ago. Now, local Realtors are...

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It's Friday desk clearing time for this blogger. "The price of a detached house in this upscale community fell 22 percent in October from a year earlier, helping to drag the average residential price in Canada down by 9.9 percent, the biggest decline in 26 years. West Vancouver builder Sean Hanley...

The Philadelphia Inquirer reports from Pennsylvania. "This is supposed to be a buyer's market. But tougher lending rules, job insecurity, and fears that the house purchased today might be worth less tomorrow are taking the flexibility out of the decision to buy. The result, in many cases, is a...

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Reuters reports on California. "Home sales in the San Francisco Bay area rose nearly 39 percent in October from a year earlier and the median home price posted a record fall, a report on Thursday said. The median price paid for all homes in the region fell to $375,000 in October, down 40.6 percent...

The Sun Sentinel reports from Florida. "A typical used home in Broward and Palm Beach counties now sells for less than $295,000, a price not seen here since spring 2004, according to the most recent data from the Florida Association of Realtors. Distressed properties fetch far less than that. Many...

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The LA Times reports from California. "The median sales price for homes in the region fell to $300,000 in October, a level not seen since 2003 and a 41% drop from the peak price set in the spring and summer of 2007, according to MDA DataQuick. Los Angeles County's median home sales price was...

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A report from Oregon Public Radio. "In the last several years high-end resort communities have sprung up across the West. But those destination resorts are suffering big time under the housing slump and credit crunch. Vast tracks of land sit idle without buyers. Resort club houses are 'closing for...

The Sun Times reports from Illinois. "Home sales in Chicago fell 23 percent and the median price fell 4.5 percent in the third quarter from a year earlier, the Illinois Association of Realtors said Monday. Statewide, sales dropped 21.2 percent and prices fell 8.2 percent. 'Clearly the housing...