The Housing Bubble Blog

The Uinta County Herald reports from Wyoming. "The concrete foundations poured and seemingly left for dead on Cheyenne Drive, and in Brook Hollow Subdivision Phase 4 are just the visible fragments of a big real estate investment and development plan that has crashed down in recent months. Leo...

A report from New Jersey Biz. "Homeowners in the state facing mortgage foreclosures are heading in droves to law firms, state agencies and nonprofits for advice on how to save their homes or buy time before they hand over their keys. Glenn Reiser, a partner in (a) law firm in Hackensack, says he is...

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The Ventura County Star reports from California. "With the influx of foreclosures flooding the market, the cooling market is freezing out traditional home sellers like the Vicentes. It has been 13 months since Rose and Manny Vicente put their Simi Valley home up for sale and started boxing...

Some housing bubble news from Wall Street and Washington. Bloomberg, "Builders in the U.S. broke ground in May on the fewest houses in 17 years. Housing starts fell 3.3 percent to a 975,000 pace from a revised 1.008 million in April, the Commerce Department said today in Washington. The reading was...

The Denver Post reports from Colorado. "Andy Klein is a bargain shopper - on a huge scale. Since late last year, Klein has bought a few hundred lots for about half of what they sold for just two years ago. Klein is buying properties from banks and builders from as far north as Longmont and Brighton...

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The Associated Press reports on California. "Median home prices dropped 26.7 percent in May across Southern California's six most populous counties compared with last year. DataQuick said it marked the steepest annual drop since the firm began keeping records in 1988. Median home prices fell to...

Some housing bubble news from Wall Street and Washington. New York Times, "The chief executive of Lehman Brothers, Richard S. Fuld Jr., stepped up to the microphone on Monday morning. Mr. Fuld started off the bank's earnings call, responding to analysts who said they wanted to hear from him. He did...

The News Journal reports from Florida. "The glut of unsold real estate on the local market has begun to shrink, but that doesn't mean more houses are getting sold. The inventory of homes, condominiums, businesses and lots being marketed by agents in Volusia and Flagler counties hit a record 9,541...

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The North County Times reports form California. "Working as a real estate agent, insurance dealer, income tax preparer and credit repair specialist, Miguel Romero has helped Latinos buy 122 homes since 2004, becoming one of his firm's best salesmen. But his customers have not been so fortunate; at...

Readers suggested a topic on goverment housing proposals and self enrichment. "How many Congressfolk would be direct beneficiaries of the Dodd-Frank mortgage rescue?" Two answers, "'Only 100%.' 'More like 170%. Most would go for second helpings.'" One looked at the wider trend, "Does anyone see...

What do you see in your housing market this weekend? Lower prices? "Most Clark County homeowners will see a decline in their assessed property values when 2007 statements from the Assessor's office are mailed out next week. It is the first drop in overall assessed values since the early 1980s....

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Sonoma News reports from California. "During the most recent real estate bubble, speculation drove home prices up as inventory tightened. But according to Sonoma Valley real estate professionals, home ownership is becoming viable again in a market that, at times, has seemed almost dormant. 'During...

Readers suggested a topic on energy costs and house prices. "Can we discuss the impact of rising energy costs and general inflation expectations on the decision to rent or buy a home? What are the risks of waiting to buy? My heating costs have almost doubled since I went from owner to renter 2.5...

The Gazette reports from Maryland. "During the first quarter of this year, Montgomery County ranked second-highest in the number of foreclosures in Maryland, up nearly 54 percent since the previous quarter, according to the Maryland Department of Housing and Community Development's research office...

Please post off-topic ideas, links and Craigslist finds here. And send in your HBB OTR photos to: AnnMoorman@att.hairnet.net We are especially looking for SF pics, so please send those in!

It's Friday desk clearing time for this blogger. "The number of residential homes for sale through the Coeur d'Alene MLS has topped 4,000. At the same time, home sales remain soft. 'They are, but we're still in what would be considered a normal market,' said Kim Cooper, spokesman for the Coeur...