The Housing Bubble Blog

Readers suggested a topic on what might be desireable effects of a housing correction. "I’d like to know what people want/expect out of this housing downturn. For example, in addition to a house at 2.5x income, I’d like to own a few multi-family properties to hold long term as a cash flow...

The Destin Log reports from Florida. "A Destin doctor who has had his pulse on the Destin real estate scene for more than 30 years has slashed the asking price of his bayfront home by $1 million. Now, the home that Darlene and Dr. Mike Raim live in carries a listing price of $1.79 million. It was...

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The Tribune reports from California. "The median price of a single-family, detached home in San Luis Obispo County inched up 4.1 percent year-overyear in May to $579,540, according to the California Association of Realtors. But the uptick reflects more a change in the mix of the housing market than...

The Gazette reports from Colorado. "Colorado Springs remained mired in a housing slump in June, and at least one local economist says don’t expect a turnaround until next year. The supply of homes listed for sale soared to 6,870 in June, breaking the month-old record number of 6,567 set in May,...

Some housing bubble news from Wall Street and Washington. CNN Money, "Existing home sales are likely to see more declines in coming months as a key reading of pending deals fell to nearly a six-year low in May, a real estate group said Tuesday. The National Association of Realtors said its index of...

The Orlando Sentinel reports from Florida. "Overall the news for Central Florida underscored a trend that began in about 2005, when high insurance and unbridled property taxes curbed buyers' appetite for coastal properties. 'Coastal areas are where we're seeing the lowest of the lows,' said Volusia...

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In Business Las Vegas reports from Nevada. "The price of resale homes fell sharply in May, but a Las Vegas-based analyst said the price drops are needed to reduce the glut of homes on the market. Dennis Smith of Las Vegas-based HomeBuilders Research reported that the median price of resale homes in...

The Post Dispatch reports from Missouri. "Christopher Miller wanted an old house with the amenities of new construction. Instead, he found a new home with the character of an old house. And despite numerous upgrades, he got it at a bargain price. Miller expects to pay $315,000 for a...

Some housing bubble news from Wall Street and Washington. "Agents with the U.S. Securities and Exchange Commission spent Friday monitoring the last day of business at the Irvine offices of Brookstreet Securities, which closed to retail customers this month after failing to meet margin calls on...

The Ledger reports from Florida. "It's going to take time to clear out the 4,500 to 5,000 homes the Polk County Builders Association estimates is waiting in builder inventories. 'Nothing is hot,' said Mark Hulbert, president of Hulbert Homes in Lakeland. 'Everything is moving at a slower pace.'"...

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The Daily Press reports from California. "KB Home is discovering that less could be more when it comes to luring skittish buyers in a housing slump. In recent months, the company has rolled out a new line of smaller, more affordable homes that it hopes will jump-start sagging sales, including at...

Readers suggested a topic on the new federal lending guidelines. "Will these 'rules' have any teeth?" "Bank regulators agree on subprime rules: Bank regulators have agreed on new standards for subprime mortgage loans and are prepared to release it Friday, several sources familiar with the matter...

The Sun Sentinel reports from Florida. "Prospective home buyers let the spring selling season pass in May with a yawn and maybe a lowball offer. Broward County had by far its worst May since the Florida Association of Realtors started keeping track in 1994. There were 574 sales of existing homes...

Readers want to hear your housing bubble predictions for the coming months and years. "It’d be neat to have an 'end of the quarter wrap' highlighting all of the major occurrences and stats for Q2." "Or a predictions thread? Check this one out from the same time last year: 'What are your housing...

What do you see in your housing market this weekend? A slowdown in construction? "Builders continued their cautious approach toward new homes in the second quarter, with starts down nearly 22 percent from a year ago. The decreasing numbers signal a slowdown in the Austin area's housing market."...

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Some reports from the Washington Post. "Tommy Rice, Arlington County's real estate assessor, spotted something troubling on his computer when he returned to work after a three-week vacation early this year: a half-dozen residential property transactions with an unusual code, the numeral 1, which...