The Housing Bubble Blog

The San Mateo County Times reports from California. "Sales of single-family homes in San Mateo County plummeted in October, falling 32 percent as the housing slump deepened on the Peninsula, according to a new report. Median prices slipped by 10 percent or more compared to October 2006 in many...

Some housing bubble news from Wall Street and Washington. Bloomberg, "Fannie Mae, the biggest source of money for U.S. home loans, reported that its third-quarter loss doubled and said credit costs will increase as the housing slump deepens. The net loss of $1.39 billion, or $1.56 a share, was...

The Ellsworth American reports from Maine. "The state’s consumer credit office says it already is receiving almost daily phone calls from Mainers who can’t repay their loans. 'We know there’s a problem because of the phone calls we are getting nearly every day from consumers who are unable to make...

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The Press Enterprise reports from California. "An economic forum dubbed 'The Coachella Valley: The Last Urban Frontier?' Wednesday had less to do with settling an untamed landscape and more to do with harsh warnings for the desert's not-so-distant future. The country and the Inland region --...

The Rocky Mountain News reports from Colorado. "Denver-area home prices fell by about 5.4 percent in October from a year earlier. Broker Larry McGee isn't worried that home prices were down in October from a year earlier. 'That reflects a realistic price given all of the foreclosures,' McGee said."...

Some housing bubble news from Wall Street and Washington. Bloomberg, "Toll Brothers Inc., the largest U.S. luxury homebuilder, said fourth-quarter revenue fell 36 percent and the cancellation rate rose to the highest ever as demand faltered in the weak housing market. In the three months ended Oct....

The News & Observer reports from North Carolina. "Wendy Gilbert had high hopes for her University Park house. Buoyed by rapid sales and rising prices in the West Raleigh neighborhood, she and her husband paid $252,000 for the three-bedroom home in December. They planned for profit. They fixed it up...

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The Press Enterprise reports from California. "End-of-the-year deals on a glut of built but unsold homes are in full swing in the Inland counties, as builders slash prices, subsidize mortgage rates and sometimes help to sell their customers' existing houses. Borre Winckel, executive director of the...

The Mail Tribune reports from Oregon. "The median October sales price for an existing home in Jackson County was $245,500, 12 percent below the $279,950 price a year earlier. Going into winter, sales generally fall off, but prices haven't necessarily declined during the off months during the 2000s....

Some housing bubble news from Wall Street and Washington. MarketWatch, "Washington Mutual Inc. said Wednesday that 2007 credit losses could amount to between $2.7 billion to $2.9 billion, almost double the estimates it made in July when the subprime meltdown was starting in U.S. mortgage markets....

The Baltimore Sun reports from Maryland. "For a man with about $175 million riding on an unconventional condominium project set to open in the spring, Patrick Turner seems remarkably unworried. Never mind that the real estate market is in the dumps. Never mind that no one has ever put condos in a...

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The Sacramento Bee reports from California. "Scared by growing numbers of bank-owned houses and for-sale signs in their neighborhoods, a handful of local cities are launching moves to help homeowners threatened with foreclosure. Their initiatives so far are limited to offering advice. Nobody's...

The Journal Gazette reports from Indiana. "More Allen County residents are putting their homes up for sale to avoid foreclosure, said broker Tony Chacon. That is adding to the large pool of homes on the market. Some Allen County houses are being sold for less than the outstanding loan balance,...

Some housing bubble news from Wall Street and Washington. Reuters, "Beazer Homes USA Inc said it cut 25 percent of its staff, would suspend its dividend and sees at least $230 million in noncash impairment charges in its fiscal fourth quarter. 'The housing industry continues to face the most...

The Palm Beach Post reports from Florida. "In Palm Beach County's new-home developments there were 755 single-family move-ins during the third quarter of this year, the fewest in more than a decade, according to MetroStudy. That's also 52 percent fewer than the same quarter last year. There were...

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