The Housing Bubble Blog

The News Press reports from Florida. "The National Credit Union Administration is auctioning $26 million worth of bad debt on houses built in Cape Coral and Lehigh Acres, likely the first in a wave of houses that experts say could drive down the market with fire-sale prices. Current values of the...

The Sun Journal reports from Maine. "Golf course owner Gard Craw is an old hand at reading the green. So, despite the softness in the local housing market, he's ready to commit upward of $20 million in a new residential subdivision across from his Apple Valley Golf Course. 'You do it when the times...

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The Monterey County Herald reports from California. "In Monterey County, the numbers are less drastic. But those trying to sell a home face an uphill battle as the inventory of houses on the market continues to climb: The Monterey County Association of Realtors showed 2,732 active home listings in...

The Billings Gazette reports from Montana. "The subprime investment jitters have hit Yellowstone County government. On Tuesday, Yellowstone County Commissioners asked the Montana Board of Investments to return nearly $72 million of its investment funds because of the potential exposure to risky...

Some housing bubble news from Wall Street and Washington. CNN Money, "The biggest plunge in new home prices in 37 years was not enough to revive October sales, according to the government's latest reading. The Census Bureau's latest report also sharply cut back on its earlier estimates for sales in...

The Bradenton Herald reports from Florida. "The Florida Association of Realtors cited disruptions in the mortgage market and tightening credit as factors affecting Florida's housing market. Statewide, sales of existing single-family homes fell 29 percent in the year-to-year comparison. The median...

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The Used House Salespeople report on October results in California. "Home sales decreased 40.2 percent in October in California compared with the same period a year ago, while the median price of an existing home fell 9.9 percent, C.A.R. reported today. 'Financing issues have dogged entry-level...

The Albuquerque Tribune reports from New Mexico. "With the housing market slowing in Albuquerque, sellers are trying some unusual approaches to bring buyers to their doors. Longford Homes had its first-ever auction. The company put up 30 homes on the Duke City's northwest side that have sat empty...

Some housing bubble news from Wall Street and Washington. MarketWatch, "Sales of existing homes fell further in October even as more homes came on the market, driving the supply of homes to the highest level in 22 years, the National Association of Realtors reported Wednesday. For single-family...

The Toledo Blade reports from Ohio. "A slump in the local condominium market is mirroring slowing sales of single family homes. The 391 condos sold in metro Toledo and outlying areas from January through October is down 8 percent from the same period a year ago, and the average sale price dropped 4...

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The LA Times reports from California. "Few would argue. Southern California home prices have fallen for five straight months, according to data released this month, and are now down 12% from their peak last spring and summer. Jeff Vendley, a Ventura mortgage broker...is trying to sell two Oxnard...

Some housing bubble news from Wall Street, Washington and the World. MarketWatch, "U.S. home prices were falling in every region of the country in September. For the first time in this housing cycle, prices in all 20 cities dropped from the previous month, with the biggest declines in the former...

The Manchester Journal reports from Vermont. "The real estate market has seen a decline in the number of sales nationwide and Manchester is no exception to the rule. Building contractor Peter Keelan said the market is slower than it has been in previous years. Keelan said this is because many of...

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The Contra Costa Times reports from California. "Roiesha Scot sat on her dark leather sofa, holding her 2-week-old baby, and said it was her fault. 'Now I wish I had asked more questions and done a lot more market research,' she said. 'As soon as we moved into the house, the values were going down....

A report from the Arizona Daily Star. "Chris Tanner and his wife found their dream home last year, a four-bedroom, 3,100-square-foot house on the Northwest Side with a pool, a postcard view of the Santa Catalina Mountains — and an uncomfortably high mortgage payment of about $3,000 per month. 'I...