The Housing Bubble Blog

The Tribune reports from California. "Sales of San Luis Obispo County homes slipped 6.4 percent in June year-over-year, but that was a significant improvement over the 30 percent drop registered in May, according to the latest information from DataQuick. However, it was the slowest June for home...

Some housing bubble news from Wall Street and Washington. MarketWatch, "NVR Inc.'s second-quarter net income fell 52% from a year earlier, reflecting declining home prices as well as a land-related impairment charge, the residential builder's financial results showed Friday. The company said orders...

Bloomberg reports from Florida. "In the middle of the biggest glut of condominiums in more than 30 years, Miami developers keep on building. 'Florida is the epicenter for all the problems that exist in the housing industry,' said Lewis Goodkin, a property adviser in Miami for the past 30 years, who...

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The San Francisco Chronicle reports from California. "Bay Area home sales eroded further in June, with properties in less-expensive areas leading the way. Across the nine-county region, sales of houses and condos tumbled 26.5 percent from 10,830 in June 2006 to 7,964 last month, according to real...

The Star Tribune reports from Minnesota. "Al Ynigues found out the hard way about the dangers that lurk in exotic high-risk home loans. A broker he trusted exaggerated his income nearly three-fold and steered him into a variable rate mortgage with rapidly escalating payments he can no longer...

Some housing bubble news from Wall Street and Washington. Bloomberg, "MGIC Investment Corp., the largest U.S. mortgage insurer, said second-quarter profit plunged 49 percent as it paid more in claims. MGIC, which protects banks against defaults on home loans, said losses climbed 61 percent to...

WESH reports from Florida. "Orlando is becoming one of the most difficult cities in America to sell a home for fair-market value, WESH 2 News reported. A new study shows Orlando-area homeowners more than a 50 percent chance of lower home values by mid-2009." "Tawn Kelley helps people get loans to...

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The Press Enterprise reports from California. "Inland Southern California's home sales last month were the worst in a decade in Riverside County and the worst on record in San Bernardino County. In June, Riverside County posted 3,359 home sales, down more than 47 percent from June 2006. San...

The Review Journal reports from Nevada. "Home Builders Research reported that new home sales through May are down 43.8 percent in Las Vegas from a year ago and resales are off by 34.7 percent. Median new home prices have declined 4.4 percent to $308,874 and existing home prices slipped 3.8 percent...

Some housing bubble news from Wall Street and Washington. Bloomberg, "Builders in the U.S. unexpectedly started work on more homes last month while permits for future construction fell to the lowest level in a decade, suggesting a recovery from the housing slump may not be quick." "Housing starts...

The Morning Call reports from Pennsylvania. "Charline Pillinger and boyfriend Christopher Dorsey wanted more space for themselves and their five children, so they moved out of a $500-a-month two-bedroom apartmen. The couple had no savings and earned only $40,000 combined, but they still qualified...

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The Voice of San Diego reports from California. "Last summer, year-over-year home prices dropped for the first time in a decade. And new data released Monday marked the 12th straight month of such drops in San Diego County's home prices. The 19,184 homes sold in the first six months of this year...

A report from the Oregonian. "The Portland-area housing market continued its slow drift downward in June. The median home price for the Portland area dropped to $295,000, from $297,000 in May, according to the Regional MLS. That marked the first May-June decline since 2000, and indicated to...

Some housing bubble news from Wall Street and Washington. "Homebuilder sentiment slid in July to its lowest since January 1991 as fallout from the housing slump and subprime mortgage crisis caused a glut of new homes, the National Association of Home Builders said on Tuesday." "The NAHB/Wells Fargo...

The Herald Tribune reports from Florida. "A large banner hanging outside the Toledo Club Apartments on one of the main arteries in this city attests to distorted condition of the local rental market. The words on the banner read: 'Free Rent.'" "'There is an abundance of rentals out there,' said...

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