The Housing Bubble Blog

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The Recordnet reports from California. "When Louise Wohl bought her one-bedroom, one-bath Lodi condo in August 2005 for $180,000, she was delighted with her first home purchase. Then in July, she got a letter from the lender saying her adjustable-rate loan was jumping after the initial two-year set...

The Chicago Tribune reports on Nevada. "The upscale San Niccolo neighborhood to the south of this city's bustling Strip once offered the real estate equivalent of the town's loosest slots. The guy who sold Karen Lewis her house for $435,000 in June 2006 raked in a $200,000 profit after holding it...

Some housing bubble news from Wall Street and Washington. Reuters, "Washington Mutual Inc, the largest U.S. savings and loan, may set aside $500 million more than it had previously forecast for loan losses in 2007, amid what CEO Kerry Killinger on Monday called a 'near perfect storm' in U.S....

A report from Newszap Delaware. "Local homes staying on the market longer and for-sale signs advertising 'reduced prices' are clear indicators the housing boom of recent years is drawing to a close. 'The big party is over,' said Edward Hammond, a member of the Kent County Association of Realtors."...

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The Sacramento Bee reports from California. "About a year ago, Susan McDonald began to see dead lawns, weeds and vacant houses in her new Elk Grove neighborhood built nearly overnight during the housing boom. Months later, as (the) downturn continues to deepen across the Sacramento region,...

Readers suggested a topic on acceptable entry levels. "I’d like to recommend a weekend topic of what price and area people are going to buy in. What are they going to consider a buy signal and what will make them hold off? I think I’m going to get a condo in Miami, downtown San Diego, and Vegas for...

The Wilmington Star reports from North Carolina. "The tightened home lending standards are having an impact on the local real estate market. 'You 'have to really make sure you're pricing properly,' said Pete Frandano, principal at Southport Realty. 'Sellers need to lower their expectations from two...

What do you see in your local housing market this weekend? Overbuilding? "In Loudoun County, Va., it seems that everywhere you look, construction crews are still building. But more than 440 foreclosures have been filed at the courthouse in Leesburg so far this year. 'Everywhere you go, there are...

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The Columbian reports from Washington. "A total of 225 Clark County homes were lost to foreclosure through July, up from 138 foreclosures in the same period in 2006, according to data compiled by the Bank of Clark County. Mike Worthy, CEO of the bank said some may need to act quickly or risk...

Readers suggested a topic on local housing bubble fallout. "I’d like to hear from HBBers on the changes (good or bad) that have taken place in their communities as a result of the housing bubble. Sprawling new developments are obvious, but what about some of the other, more subtle (or not so...

The Daily News reports from Florida. "Foreclosures are at a record high across the county, and you’re looking to snag a deal. The first step? Proceed slowly and carefully, said Okaloosa County Clerk of Courts Don Howard. 'Anytime you’re buying foreclosed property, there is some risk involved,'...

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It's Friday desk clearing time for this blogger. "Staten Island foreclosures doubled in July, making the borough the New York county with the highest rate of foreclosure activity statewide, according to Realtytrac. 'Staten Island is the only place where you see [foreclosure] across the board,' said...

The Press Enterprise reports from California. "To cut the glut of homes on the market, the chief economist for the California Association of Realtors on Thursday urged real estate agents to refuse listings from clients who don't need to sell or won't lower their price to reflect declining values....

Some housing bubble news from Wall Street and Washington. Associated Press, "Shares of Hovnanian Enterprises Inc. fell Friday after the luxury homebuilder reported it fourth conscutive quarterly loss and said it would slash prices on homes across the country beginning late next week to try to sell...

The Dallas Morning News reports from Texas. "For thousands of Texas homeowners, the check isn't in the mail. Almost 6.5 percent of the state's mortgage holders are late with their monthly payment, the latest survey finds. That's higher than the national loan delinquency rate of 5.12 percent, the...

And send your housing bubble photos to: hbbphotos@gmail.com