The Housing Bubble Blog

Inside Bay Area reports from California. "Just about every day they gather on the courthouse steps, waiting for an auctioneer to read off a list of foreclosed homes at the Alameda County Courthouse in Oakland. 'We are here every day,' Francis Ho said Tuesday before entering an unsuccessful bid for...

The Mountain Express reports from Idaho. "You don't need to be a real estate guru to realize the housing market in the Wood River Valley is in the midst of some kind (of a) predicament. A short walk through Ketchum will include mountain vistas, warm weather and a propagation of 'For Sale' signs...

Some housing bubble news from Wall Street and Washington. "The Pending Home Sales Index based on contracts signed in June...is 8.6 percent below June 2006 when it stood at 112.0. The PHSI in the West was 5.5 percent below a year ago. In the Northeast, the index is 2.4 percent lower than June 2006....

The Times Union reports from New York. "In line with a national trend, the Capital Region's housing market continued to slide during the first six months of the year, leading to price declines in some areas. 'Saratoga was our most active market and the market showing the most price appreciation,'...

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Reuters reports on California. "'The golden dream by the sea' is how Gov. Arnold Schwarzenegger has fancifully described California. Yet for thousands who bought homes during the Golden State's latest housing boom, foreclosures have turned recent months into a nightmare. Dorothy Hicks, a retired...

A report from the Arizona Republic. "The fallout from the country's real-estate slump continues to reverberate in Arizona and across the nation as more homeowners and lenders turn to foreclosure to solve their financial woes. New data released Monday show that foreclosure-related filings in Arizona...

Some housing bubble news from Wall Street and Washington. "IndyMac Bancorp Inc., a big Southern California mortgage specialist, said Tuesday second-quarter profit fell 57 percent as the deepening U.S. housing slump hurt margins and loan volume, and more customers fell behind on payments." "Lenders...

The Palm Beach Post reports from Florida. "The Briny Breezes sale is off. Ocean Land Developers sent certified documents this morning telling the corporate board the deal to buy the mobile home park for $510 million and convert it to a resort had fallen through, Ocean Land VP Logan Pierson said."...

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The Voice of San Diego reports from California. "About a year into his career as a Realtor, Denny Oh was itching to buy a home. With just a year under his belt in a commission-based business like real estate, Oh knew his income made it impossible to buy alone. So, two years ago, he and two college...

The Statesman reports from Oregon. "In a year's time, the mad dash to buy houses is over. The Mid-Willamette Valley's residential real estate market has cooled. The numbers show the area is not immune from the national housing slump. Sales have dropped 12 percent this year, according to June...

Some housing bubble news from Wall Street and Washington. Bloomberg, "IKB Deutsche Industriebank AG replaced its CEO and said profit will be 'significantly' lower than forecast, hit by the U.S. subprime mortgage rout that it said 10 days ago would not affect it. The bank said in a statement it had...

A report from the Washington Post. "Shauntise Harris expected competition when she put her one-bedroom condominium on the market in April. But she didn't know how intense that competition would get. Not only was she up against some of her neighbors at a 246-unit luxury building in the District's...

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A report from the Bakersfield Californian. "Home shoppers will likely find a few bargains this summer. Prices have dropped and the selection of available homes has grown, local realty pros said. Those searching in the northeast, where a four-bedroom home (on) Loch Fern Court is selling for...

The Chicago Tribune reports from Illinois. "Need to sell your home in a hurry? Unfortunately, for most homeowners today it's no longer as simple as putting a 'for sale' sign in the yard. Existing-home sales have fallen, and home prices have declined, too, as the number of houses for sale has...

Readers suggested a topic about sweeping up after the housing bubble. "Weekend topic suggestion: How would 'we' (HBBers) clean up this mess? Now that the damage is done, we can play 'policy wonk' amongst ourselves. What would we do if we were in charge? If we were Bernanke, Paulson, members of...

What do you see in your housing market this weekend? Resetting loans? Builder incentives? "Pennsylvania home builder, Keystone Custom Homes, is offering potential buyers the chance to, 'Live free for a year. Really.'" "The advertisers for Keystone might have thought they needed the 'Really' to...

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