The Housing Bubble Blog

It's desk clearing time for this blogger. "Tom Kunz, chief executive of Century 21, predicted a slight fall in prices this year. 'Sellers have finally figured out that this is a buyers' market. For too long they were hung up on the couple down the street that put their house on the market at...

The Orange County Register reports from California. "Jeff Lazerson, president of Mortgage Graderin Laguna Niguel, said weakness in the housing market and lending industry will force lenders to cut rates by summer. 'Realtors are starving right now,' Lazerson said. 'There is not a lot of demand to...

The Tampa Tribune reports from Florida. "It should be no surprise then that sales of existing homes locally fell 35 percent in 2006 after the hot real estate market a year before. Some real estate agents, such as Brenda Wade in Brandon, said she's seeing homeowners lower asking prices. 'Homes are...

Some housing bubble news from Wall Street and Washington. "Sales of new one-family houses in December 2006 were at a seasonally adjusted annual rate of 1,120,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is...

The Massachusetts realtors report the December numbers. "The number of single-family homes sold in Massachusetts fell 16.6 percent in December from December 2005 and the median selling price declined 5.4 percent to $335,000 as the slowdown in the state's housing market continued." "'It's good to...

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Also, send in your housing bubble pics to the new photo gallery email address: hbbphotos@gmail.com

The California realtors have their December numbers out. "Home sales decreased 15.3 percent in December in California compared with the same period a year ago, CAR reported today." "'Year-over-year sales declined in most regions last month,' said C.A.R. Chief Economist Leslie Appleton-Young. 'The...

The Florida realtors have the December numbers out. "Sales of existing homes and condos in Florida were down in December. A total of 12,415 existing single-family homes sold statewide last month, a decrease of 28 percent from the 17,215 homes sold during the previous December, according to the...

Some housing bubble reports from Wall Street and Washington. "Home sales saw the biggest drop in 24 years last year, according to a trade group report on the battered real estate market. The National Association of Realtors reported that there was an 8.4 percent drop in the existing home sales in...

The Capital Times reports from Wisconsin. "Developers of the upscale Bergamont golf and housing project in Oregon are turning their attention downtown. Fleming Development is seeking city approval for a 12-story condominium tower at the corner of West Johnson and Bassett streets that would include...

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The LA Times reports from California. "The number of Californians defaulting on their mortgage loans is rising rapidly, according to figures released Tuesday, providing striking evidence that more people are at risk of losing their homes. Default notices jumped 145% in the last three months of...

A housing report from the Baltimore Sun. "Ryan Conlon had a condo picked out. Nothing showy, but nice. Two bedrooms and a porch. No roommates, no landlords. The 29-year-old supervisor at Geico in Bowie was almost locked into the deal when he suddenly backed out. 'The condo market is no good right...

The News Press reports from Florida. "One Cape Coral homeowner left an auction sponsored by the Miloff Aubuchon Realty Group elated her home fetched a $400,000 bid. Then the bottom fell out. 'The bid came over the Internet. They said there was a computer glitch,' said Rosemarie Leibert. 'They put...

The Charlotte Observer reports from North Carolina. "The coastal housing boom of the past few years has come to a screeching halt. In Myrtle Beach, new and existing condo sales dropped 37 percent in the third quarter from a year earlier, according to Market Opportunity Research Enterprises." "In...

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The Record Searchlight reports from California. "It's never happened before, at least in this magnitude, says Redding permit supervisor Wayne Gungl. Palomar Builders Inc. received a refund on about 30 single-family home permits it took out last January. The 30 homes made up nearly half of the 66...

A report from the Arizona Republic. "A wave of mortgage fraud in the Valley has prompted state legislation that would define it as a crime punishable by up to 10 years in prison. A day after The Arizona Republic's special investigation into cash-back mortgage deals, Sen. Jay Tibshraeny of Chandler...

Some housing bubble news from Wall Street. MarketWatch, "D.R. Horton Inc., the nation's largest home builder, said Tuesday that net income fell about 65% as the company took land charges and write-offs on options it plans not to pursue. The company's quarterly net income included charges of $40.9...