The Housing Bubble Blog

The St Petersburg Times reports from Florida. "Nearly 50 buyers paid thousands of dollars apiece last year to reserve a condo at the Seaside Villas at Gulfport, a 121-unit complex along Boca Ciega Bay that was scheduled to be completed by August. So far, though, the only people living there have...

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A report from the Idaho Statesman. "An Idaho Statesman analysis shows the biggest group, 43 percent, of newcomers to Ada and Canyon counties from 2000 to 2005 hail from other places in Idaho. Just 11 percent came from California, and as many people came to the Treasure Valley from Phoenix, Seattle,...

A housing report from the Arizona Republic. "One set of victims bought a house as an investment, only to realize that it belonged to someone else. Another had a lender knock on the door and immediately foreclose on the home, leaving the family on the street. They're just a few examples of how a...

Some housing bubble news from Wall Street and Washington. "Subprime lender NovaStar Financials shares tumbled nearly 40% Wednesday after reporting a fourth-quarter net loss. Problems with mortgages originated in 2006 knocked $17.4 million off fourth-quarter earnings. Provisions for losses on loans...

The Tampa Tribune reports from Florida. "Just as the real estate market was starting its downturn in the fall of 2005, Alan Westfall slipped into the investment game. He paid $365,700 for a six-bedroom home in Heritage Isle in north Tampa. He mortgaged the property at 100 percent, painted,...

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The Santa Cruz Sentinel reports from California. "There's been a notable jump in the number of home foreclosures in the county. 'I have clients who are on the road to foreclosure, and nothing's going to stop that train,' said Pamela Simmons, a Soquel attorney with a specialty in mortgage lending...

The Denver Post reports from Colorado. "Brian and Selah Davenport were two days away from closing on a townhouse in Parker when their mortgage broker called on Valentine's Day. Their lender, Las Vegas-based Silver State Financial Services, one of the country's bigger subprime lenders, had ceased...

The Hillsdale Daily News reports from Michigan. "Since 1994, sheriff’s foreclosure deeds have been rising steadily. In 2006, 194 sheriff’s deeds were filed and only 14 individual owners redeemed their properties. In the month of January 2007 alone, 25 sheriff’s deeds were filed. Three of the houses...

The Press Herald reports from Maine. "A mortgage broker recently left a message on Jennifer Richardson's home answering machine suggesting it was time to refinance again. This time, she didn't call back. Since she bought her one-level ranch in Lewiston six years ago for $73,000, she has refinanced...

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The Victorville Daily Press reports from California. "High Desert sale prices for resale homes are experiencing a firm downward trend. Prices of resale homes in the High Desert went down by nearly 4 percent in January from the same time last year, not a big drop but the largest one in years." "The...

The Kansas City Star reports from Missouri. "Here’s how bad the housing market is getting across metropolitan Kansas City: Doug and Cathy Cade are offering a new car or a trip to Hawaii for anyone who buys their five-bedroom Shawnee house for the asking price. And they haven’t had a taker. 'It’s...

The Herald Sun reports from North Carolina. "The median sale price of resold houses in Durham dropped from $167,500 in the third quarter to $155,000 in the fourth, according to Market Opportunity Research Enterprises. That amounts to a 7 percent decline and is $15,000 below the median in the fourth...

The Miami Herald reports from Florida. "The story of housing in South Florida in 2006 was one of waiting. Now the question is: Will 2007 be the year the market turns around? The answer lies in the mountain of homes across South Florida with 'For Sale' signs, the single biggest indicator of a market...

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The Union Tribune reports from California. "Most home sellers and real estate agents in the county would like to forget about 2006. The median home price had its first decline in 11 years. The volume of sales shriveled by 24 percent. Between July and September, foreclosures were three times as high...

Readers suggested a topic about property taxes in a housing bubble. "Topic Suggestion-Tactics to 'Persuade' the County Assessor that your House Really isn’t worth $xxx,xxx." "Maricopa Co, Arizona, came out with their assessments for 2008 already! I guess they’re trying to lock in the values before...

The Star Telegram reports from Texas. "Having more than 1,000 homes posted for foreclosure each month is becoming the new norm in Tarrant County. The total for the March 6 auction is 1,029, and it's the seventh month in a row that foreclosures have topped 1,000. There are now almost twice as many...