The Housing Bubble Blog

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Inside Bay Area reports from California. "Irene Pena is buying her first home, a three-bedroom house in San Pablo priced at about $500,000. She was scheduled to get the keys to her house this week, but instead she learned 10 days ago that her loan had fallen through because the lender changed its...

Several readers suggested the new legislative proposals as a topic. "March, 2007: Subprime melts down, leaving pretty much no doubt even in the minds of the media that there had been a bubble accompanied by fraud. So what now? Senator Dodd’s suggestion of bailouts is actually big news. It’s a...

The Pioneer Press reports from Minnesota. "There may or may not be a real estate bubble in Ramsey County, but there's no denying Ramsey County's housing market is losing some serious air. Tax statements that hit mailboxes this week show that as many single-family homes in St. Paul lost assessed...

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It's desk clearing time. "In a wide-ranging interview, Angelo Mozilo, the CEO of America's No. 1 lender suggested that panic was gripping the market over mounting distress in the subprime business. But he also predicted that the bad news is far from over. Q: 'So the industry got a little crazy with...

The Contra Costa Times reports from California. "Contra Costa County home sales in February dropped nearly 20 percent from last year, a 10-year low, while prices also dipped 5 percent, from a median of $568,000 to $537,000, a Dataquick reported. Several East Bay real estate agents and brokers said...

The Journal Constitution reports from Georgia. "Subprime loans helped fuel the housing boom in Atlanta, and now they are feeding fears of a foreclosure epidemic. In the past quarter, 13.5 percent of the nation's subprime mortgage loans were in default. The rate was higher in Georgia —17.4 percent,...

The Republican reports from Massachusetts. "Indicators of delinquent mortgage payments that could lead to foreclosure rose dramatically in Massachusetts in February, according to a report issued yesterday. The first step taken by a lender against a delinquent borrower, petitions to foreclose filed...

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

The Sacramento Bee reports from California. "Capital-area home sales remained in the winter doldrums during February, with escrow closings still well below 3,113 sales reported in February 2006, itself a gloomy month for sales. Last month, 2,534 homes changed hands in Amador, El Dorado, Nevada,...

The Journal Sentinel reports from Wisconsin. "An ugly surprise reported Tuesday by the Mortgage Bankers Association was that Wisconsin, long known for superior bill-paying performance, had a foreclosure rate worse than the nation's - 1.42% of all loans in the fourth quarter." "It was all too easy...

Some housing bubble reports from Wall Street and Washington. "Pulte Homes Inc., the fourth- largest U.S. homebuilder, said the housing market is unlikely to have a quick recovery as buyers wait out the drop in prices. 'We're not projecting anything to bounce off the bottom at this point,' CFO Roger...

The News & Observer reports from North Carolina. "Raleigh Realtor Gary Hooker already has lost three sales to first-time homebuyers since lenders this month began cracking down on easy mortgage money. But his real worry is the effect that tougher restrictions on subprime borrowing may have on the...

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The Sacramento Bee reports from California. "A meltdown in the subprime mortgage lending market might mean trouble for a Sacramento-area market many believe is slowly coming out of its housing slump. Last year an estimated 27 percent of area buyers took out subprime loans. Now, many here and across...

A report from the Arizona Republic. "The number of Arizonans behind on their mortgages and in danger of losing their homes is at a two-year high and expected to keep climbing. Many homeowners staved off foreclosure a few years ago by refinancing to more risky adjustable-rate mortgages with lower...

Some housing bubble news from Wall Street and Washington. "Stock markets around the world tumbled Wednesday as investors moved to reduce risk, spooked by the sharp sell-off on Wall Street amid mounting fears over rising mortgage defaults. 'The rise in mortgage delinquencies in the U.S. has to be...

The Boston Globe reports from Massachusetts. "Massachusetts Secretary of State William F. Galvin said yesterday his staff has demanded documents from two Wall Street firms over their recommendations on subprime lenders such as New Century Financial Corp. of California, questioning whether analysts...