The Housing Bubble Blog

Some housing bubble news from Wall Street and Washington. Bloomberg, "A $7,000 income tax credit to anyone who buys a foreclosed property, further undercutting your asking price, (is) part of a deal that includes $29 billion in tax cuts through 2010 that are intended to give the battered housing...

The Sun Sentinel reports from Florida. "Many were left out of the market during the housing boom of 2000 to 2005 because homes were too expensive. But now, even with sellers desperate and prices plummeting across South Florida, first-time buyers still can't realize the American Dream with property...

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The Fresno Bee reports from California. "Some 40,000 to 45,000 Fresno County property owners may be in line for a break on their taxes next year, a silver lining in this deeply depressed housing market. Like their colleagues across California, officials in the county assessor's office are flooded...

I suggested the possible global housing bubble collapse as a weekend topic. "As a weakening housing market appears to be dragging the American economy into recession, the International Monetary Fund warned this week that home prices in other industrial countries were even more overvalued. The fund...

What do you see in your local housing market this weekend? Speculation? "As Southwest Ohio and Northern Kentucky enter a third straight year of declining home sales and falling prices, a new term has been folded into the local housing market vocabulary: Correction. 'We’re getting back to reality in...

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Marketplace reports from California. "Tess Vigeland tours the wasteland of foreclosed homes near Stockton, California, and meets a family that's resorted to squatting in their own home. Vigeland: 'Dan Sinclair's a 43-year-old systems analyst who lives in Patterson with his wife Esmeralda and their...

The Orlando Sentinel reports from Florida. "Developer Cameron Kuhn said Thursday that he is all but broke, in the process of swapping property and assets to clear his debt, and will soon be down to just one employee to keep his Orlando-based development business going. 'There is a clarity in going...

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The County Sun reports from California. "Only two houses in the JP Ranch project have been sold, but its developer remains optimistic. Only 300 of the 750 houses planned in JP Ranch have been built, but Mayor John Chlebnik remains optimistic. 'I don't know when (the current housing market) will...

The Dallas Morning News reports from Texas. "In the Dallas-Fort Worth area...at the end of February, about 43,000 homes were for sale in the Realtors' MLS. That's up only about 2,000 listings from February 2006. North Dallas and the Park Cities, which have so far seemed bullet-proof to the housing...

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The County Sun reports from California. "Development of the Foothill Walk properties in Upland began with 72 townhomes in early 2006. With a large banner draped across the fence on Foothill Boulevard screaming, 'NOW SELLING,' with a side note of 'From the Mid 300's,' potential buyers almost...

Some housing bubble news from Wall Street and Washington. Bloomberg, "Home prices declined in 21 U.S. cities in January, led by Sacramento and Las Vegas, as banks sold foreclosed homes at bargain prices. The price per square foot in Sacramento dropped 28 percent to $166 from a year earlier,...

WCNC reports from North Carolina. "Shattered glass and plywood-covered windows are a common sight in the Windy Ridge subdivision. More than half of the owners have defaulted on their mortgage payment in the last five years, according to real estate records reviewed by WCNC. City leaders blame...

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The Bend Bulletin reports from Oregon. "Home sales in Bend are down, but...more renters are in the market, and there are more houses to choose from, said Regan Scott, principal broker of Deschutes Property Management in Bend. That means falling rents for single-family homes and move-in incentives...

The Daily Press reports from Colorado. "It is true. Foreclosures have increased in Montrose County. The total number of sales in the area are down. Home values have also decreased and there is a larger buyers market than ever before. Montrose native Dave Weber bought his house about three years...