The Housing Bubble Blog

The Appeal Democrat reports from California. "Yuba County ranked second highest in the state for the percentage of foreclosure sales last month, data shows. Nadia Artero, branch manager at Countrywide Home Loans in Yuba City, said she has noticed a large number of foreclosures in the area recently....

The Pioneer Press reports from Minnesota. "New numbers out Tuesday confirm suspicions: The Twin Cities housing slump has slid into, well, a bust. City officials issued just 592 building permits in June, a number nearly 50 percent off the recent monthly permit peak of 1,104 in June 2005, according...

Some housing bubble news from Wall Street and Washington. Associated Press, "Homebuilder M/I Homes Inc. on Thursday withdrew its full-year earnings guidance and said it may book up to $75 million in charges in the second quarter, as the persistent housing-market slump led to lower deliveries....

The Palm Beach Post reports from Florida. "Trying to back out of a pre-construction purchase on a condo? If you're rich, forget it. A Palm Beach County Circuit Court judge ruled that a buyer could not back out of a contract to buy a $495,000 unit at Marina Grande, a $200 million waterfront...

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The North County Times reports from California. "Illustrating the area's topsy-turvy real estate market, the median price of single-family homes sold last month hit a record high of $667,000, even as industry experts bemoaned what they saw as a declining market. The 807 North County single-family...

The Review Journal reports from Nevada. "The inventory of single-family homes available for sale in Las Vegas climbed to a record 23,642 in June, topping the previous peak of 23,474 in October, the Greater Las Vegas Association of Realtors reported Monday. The number rose 18.1 percent from the same...

Some housing bubble news from Wall Street and Washington. "Ryland Group Inc. said late Tuesday it expects to report a second-quarter loss of $1.25 to $1.35 a share. The Calabasas, Calif.-based homebuilder said that due to 'continued deterioration in the housing market,' it expects to incur $145...

Providence Business News reports from Rhode Island. "John Sinnott, managing director of Providence operations for Struever Bros., said in an interview that the company has decided to drop plans for 78 condominiums in the $80 million project, opting to market all of the development’s 249 units as...

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The Press Democrat reports from California. "Builders are putting up homes in Sonoma County at a sluggish pace and don't expect a turnaround until next year, another signal the housing downturn has not hit bottom. Delco Builders' projects in Petaluma and Santa Rosa reflect what developers are going...

The Des Moines Register reports from Iowa. "The slowdown in home building is dramatic, dropping 26 percent in the Des Moines metro area from January to May compared with a year ago, building permits from the U.S. Census show. Construction activity fell 23.5 percent in the Des Moines area from 2005...

Some housing bubble news from Wall Street and Washington. MarketWatch, "Home-building bellwether D.R. Horton Inc. early Tuesday said quarterly orders for new homes fell 40% from a year earlier and that it expects to post a loss after impairment charges. 'Market conditions for new home sales...

CNN Money reports on Florida. "The last time Fortune checked in with Bob Toll, founder and CEO of luxury-home builder Toll Brothers, was in April 2005, when we dubbed him the 'new king of the real estate boom.' Needless to say, much has changed since then." "Q: Weren't you worried about speculation...

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The Fresno Bee reports from California. "With the number of unsold houses piling up, builders are offering free pools, backyard landscaping and even window coverings to persuade shoppers to buy their homes. The number of unsold finished houses or homes due to be completed within 30 days in Fresno,...

A report from the Arizona Republic. "Scottsdale-based Meritage Homes is the latest hit by the slowing housing market. Arizona's only publicly traded home builder must write off $100 million on land and operations after a second quarter in which home orders fell 28 percent and new-home cancellations...

Some housing bubble news from Wall Street and Washington. MarketWatch, "Increasing problems with mortgage loans and the rapidly shrinking human touch in stock markets dominated news in the financial sector Monday. Huntington Bancshares Corp. warned that second-quarter profit has fallen prey to a...

The Cape Cod Times reports from Massachusetts. "The entire auction process took less than 15 minutes. An attorney read a legal notice and the auctioneer opened the bidding. Moments later the property sold for $493,000, the defaulted-upon mortgage had been for $580,000. In June alone, according to...

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