The Housing Bubble Blog

Some housing bubble reports from Wall Street. "Countrywide Financial Corp. said the U.S. housing slowdown caused fourth-quarter profit to decline 3 percent, and projected 2007 earnings that fall short of most analysts' forecasts. The largest U.S. mortgage lender said it expects a 'challenging' 2007...

The St Petersburg Times reports from Florida. "Bulldozers and cranes are again making noise along Clearwater Beach, as builders work to complete major condominium projects they started years ago when the market was booming. They're discounting prices for early bird buyers, offering upgrades at...

The New York Post. "The number of New Yorkers forced into foreclosure is skyrocketing, especially in Nassau County, where foreclosures have jumped a stunning 82 percent in the past year. According to RealtyTrac, the number of city foreclosures went up 15 percent in 2006 from the year before, while...

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The Nevada Appeal. "Carson City's housing market has worked against Donaldo Palaroan. He bought his Silver Oak subdivision home in 2004, when every other California refugee was trying to get in, which fired up the market. Palaroan tried to sell in 2006, the year the bubble burst." "He and his wife...

The Rocky Mountain News reports from Colorado. "Developer Keith Simon tosses out terms like 'urban,' 'edgy,' and 'high-density,' about his fledgling $200 million mixed-use community. 'Imagine if you took Larimer Square and built it here, in the heart of suburbia,' Simon said, while driving to the...

The Monroe News reports from Michigan. "Foreclosures in Monroe County soared 64 percent during 2006. The number of sheriff's deeds climbed to 498, up from 303 during 2005, according to the Monroe County Register of Deeds office. It means about one in every 94 owner-occupied homes in Monroe County...

The Philadelphia Inquirer reports from Pennsylvania. "A few projects may have been canceled or, in the words of some developers, 'repurposed.' But it seems that the condo-sales market in Center City fared better during the 2006 real estate slowdown than markets did in Washington, New York, Boston,...

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The Sacramento Bee reports from California. "James and Beth Fullenwider are living inside a bad dream growing ever more familiar across the Sacramento region: Their 2,400-square-foot house in Elk Grove is slowly slipping away from them. They can't afford their $3,300 monthly payment." "'If the...

Readers suggested a topic on when loan standards changed. "Here’s my question for the gang - when did lending standards start changing so much? I was involved in real estate 20 years ago, mostly as a property manager, but also doing some sales in Capitol Hill/DC, a lot of shells and distressed...

What do you see in your local housing market this weekend? Have a home link? "It is roughly the same size as a prison cell. But a Chelsea bolthole, which needs rewiring, refurbishing and totally redecorating, is the latest home conversion to go on the market and is expected to fetch a minimum of...

The Gazette reports from Colorado. "Nancy and Dana Barber realized they had to do more if they hoped to sell their four-bedroom, four-bathroom home. Last year, they installed oak floors, kitchen appliances, bathroom floor tile, a furnace, central air conditioning and window coverings and painted...

The News Press reports from Florida. "The price of a home in Lee County has almost doubled during the past five years, despite a softening of the market throughout 2006. Liz Paul, a real estate agent in Fort Myers, said it's important to put the turbulence of the past five years in context."...

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The Union Tribune reports from California. "For years, new-home construction was the engine that drove the growth of the San Diego economy. But since the housing industry hit the brakes, regional growth has slowed to a crawl, local economists said at a forum yesterday." "The regional housing...

Readers suggested a topic on financial bubbles and real estate. "Something I’ve been thinking about recently: Not only do real estate bubbles exist from time to time, but it seems RE is the asset class that is MOST prone to bubble extremes and boom/bust cycles." "Consider: In the past century there...

The Capital Times reports from Wisconsin. "Fleming Development is seeking city approval for a 12-story condominium tower at the corner of West Johnson and Bassett streets that would include 197 housing units. Prices are expected to start in the $200,000 range." "Developer Dan Fleming said he was...

NBC 2 reports from Florida. "New figures show the number of home foreclosures is sky-rocketing in Collier County. The numbers are in for 2006 and they're record-setting. In fact, they doubled in just the last year. Everyone is rushing to sell and those who can't sell are left without a choice and...

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