The Housing Bubble Blog

Some housing bubble news from Wall Street and Washington. "The number of U.S. homeowners who face possible eviction because of late mortgage payments rose to an all- time high in the first quarter, led by subprime borrowers. 'Housing is in a recession, and we're seeing that reflected in prices,'...

KTVZ reports from Oregon. "You have to go all the way back to 2000 for a May in which fewer Bend homes sold than last month, the surest sign yet that the High Desert is anything but immune from the nation's real-estate cooldown, and there are new signs prices finally are dropping, to reflect that...

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The LA Times reports from California. "Southern California home sales plunged to a 12-year low in May, falling by 34% from a year earlier, thanks to a sharp drop-off of buyers of lower-priced homes, data released today showed. DataQuick said the drop-off in sales has been especially pronounced...

The Indystar reports from Indiana. "Across the metro area, the pace of existing home sales declined again in May. Throughout the nine-county Indianapolis area, 2,941 existing houses and condominiums changed hands last month, 10.3 percent fewer than in May 2006. Real estate veterans suggest the...

Some housing bubble news from Wall Street and Washington. "U.S. foreclosure filings surged 90 percent in May from a year earlier as more homeowners fell behind on their monthly mortgage payments, RealtyTrac Inc. said. There were 176,137 notices of default, scheduled auctions and bank repossessions...

The St Petersburg Times reports from Florida. "One in five U.S. homes entering the foreclosure process last month were located in Florida. It's not the sort of ranking that makes you want to shout, 'We're No. 1!' Mark Vitner, senior economist at Wachovia Corp., cites two key reasons why the state...

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The North County Times reports from California. "The area's housing market reached a record-high median price of $655,000 for single-family houses last month, even as sales continued to tumble, according to a new report. As encouraging as the new price record is for some, it does not suggest the...

Some housing bubble news from Wall Street, Washington and beyond. "U.S. home builder Standard Pacific Corp. said new orders in April and May fell 16 percent, citing prolonged weakness in the Florida and Arizona markets. The company's cancellation rate for the period was 28 percent compared with 35...

A report from the Virginia Pilot. "Owners of about 2,800 properties in three of the city's more affluent neighborhoods received a rare notice in the mail last week: Their home assessments had decreased. Virginia Beach Real Estate Assessor Jerry Banagan sent letters to residents in North Beach, Lago...

The Miami Herald reports from Florida. "Boca Developers is considering a bulk sale of unsold units at three South Florida projects, in a proposed deal that shows how builders are grappling with the ongoing slowdown in the housing market. Boca Developers CEO Brian Street said the Deerfield Beach...

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The Santa Cruz Sentinel reports from California. "When Howard Little got a call last year about refinancing, he decided the time was right to pull money out of his home in Boulder Creek to invest in real estate. He bought a house in Sacramento and figured he'd have steady rental payments to...

The Lawrence Journal World reports from Kansas. "The number of foreclosures has increased across the country, and Douglas County is no exception. In the first four months of 2007, the Douglas County Sheriff’s Office auctioned 39 homes. Comparatively, in the first four months of 2006, 28 Douglas...

Some housing bubble news from Wall Street and Washington. Inman News, "The same forces that built up the housing boom also played a major role in its drop-off, according to the latest annual housing market report by Harvard University's Joint Center for Housing Studies." "'Except in the few areas...

The St Petersburg Times reports from Florida. "Squeezed by rising property taxes and homeowners insurance rates, and frustrated by crowded roads and schools, increasing numbers of residents are moving from Florida. Evidence is mounting that the migration boom it experienced in the first half of the...

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The LA Times reports from California. "April's new-home sales figures remained weaker throughout the state compared with a year earlier, with total sales falling 40%, the California Building Industry Assn. said. And after holding steady for several months, median asking prices fell 6.2% statewide...

Readers suggested a topic on housing terminology and the media. "I would like to see someone get onto the mass media for their use of real estate industry spin terms, such as 'housing boom,' instead of factual ones, such as 'housing bubble,' 'housing mania,' 'something-for-nothing-stampede,' and...