The Housing Bubble Blog

The Star Phoenix reports from Canada. "Canadians' seemingly endless appetite for buying and selling houses will continue the resale market's 'astounding momentum' from the second quarter through the end of the year, according to a report released Thursday. 'The most profound story in Canadian real...

Readers suggested a topic on foreclosed homes that have been taken back by the lenders. "If anyone knows, share approximately what a bank with REO’s wants to hear (and what they do not want to hear).. along the lines of: 'Mr. Banker, you and i both know those properties are depreciating fast and...

The Miami Herald reports from Florida. "Investor Tony Barquin shifted amid the crowd in the stuffy auction room at the Miami-Dade County Clerk's office Thursday, pondering which among scores of homes in foreclosure he might bid to buy. As more and more homeowners can't pay their mortgages, the...

What do you see in your housing market this weekend? Lower prices "In a recent Web chat, a reader from Manassas summed up what is probably the overriding concern of many local homeowners: 'How much lower is this residential market going to go? I have already lost over $200,000 in value compared to...

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The Record.net reports from California. "After a year and a half of painful 'adjustment' in the housing market, slowing sales and sliding sales prices after four boom years, there's still more to come, the chief economist of the state Realtors group told Central Valley agents and brokers Friday."...

The Star Banner reports from Florida. "Local Realtors are in survival mode. 'I've seen the highs and the lows and the unreal in 2004-2005 and the complete crash right now,' said 17-year Realtor Vic Rotz. 'It's really taking a turn for the worst the past three months.'" "The Ocala metropolitan area...

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It's desk clearing time for this blogger. "Linda Moore has noticed a sense of apathy settling into the Manatee County real estate market, and she is determined to shake things up one neighborhood at a time. 'Things have quieted down everywhere,' said Moore, an agent on Anna Maria Island." "Moore,...

The News Tribune reports from Washington. "It’s been years since Pierce County’s housing market has looked this bleak. The median sales price in June barely inched upward compared to June 2006 and a decline from May 2007, according to figures released Thursday by the Northwest MLS. And sales were...

Some housing bubble news from Wall Street and Washington. "Meritage Homes Corp. said on Friday it expects second-quarter revenue to be down about 37 percent from a year ago and to record more than $100 million in charges as it struggles in a weak U.S. housing market. The home builder said it has...

A report from the Arizona Republic. "A growing number of homeowners behind on their mortgage and facing foreclosure are finding a way to sell despite the glut of Valley homes for sale. They are turning to 'short sales.' 'Short sales are the buzz in the market now,' said Tom Ruff of a research data...

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

The Contra Costa Times reports from California. "With the housing market in a slump, Martinez's strategy to revive its downtown may be temporarily stunted, but the city staff said it is not at a standstill. After years of debate and readjustment of the city's Downtown Specific Plan, the blueprint...

The Herald reports from Indiana. "In 2005, Madison County had 957 houses go through the sheriff’s sales. The number of sales started going up dramatically after 1995, when the county sold 46 houses all year, said Abby Ramsey, court administrator for the sheriff’s department. The rates started...

Some housing bubble news from Wall Street and Washington. The Charlotte Observer, "More Charlotte-area homebuyers are suing Beazer Homes, alleging a litany of misdeeds and claiming the company 'fraudulently qualified' them for loans they couldn't afford. They misrepresented assets and debts on loan...

A report from the Washington Post. "Residential property values are dropping lower than county and city officials had projected, foreshadowing an even tougher budget season next year. There are 20 percent more houses for sale now than at this time last year, said said John P. Grzejka, Manassas's...

Please post off-topic ideas, links and Craigslist finds here.

A report from the Arizona Republic. "Pat Thomas is a longtime West Valley Realtor. Question: What is your advice to current renters thinking about purchasing a property? Answer: 'It's a great time to buy because home prices are coming down and there are a lot of homes to choose from.'" "Q: What is...