The Housing Bubble Blog

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The Union Tribune reports from California. "San Diego County housing prices dropped in 2006 for the first time in 11 years, apparently driven by a weak condominium and new-housing market, DataQuick reported. The overall median stood at $490,000 for the year, 0.8 percent below 2005's $494,000. It...

The Houston Chronicle reports from Texas. "Is Houston facing a slowdown in the condo market? One sign could be that condo converters who turn apartments into for-sale units are offering buyers valuable perks to purchase condos in their buildings." "The developer of Rise, a Midtown building that was...

The Press Gazette reports from Wisconsin. "A big part of a bank's profit source is the difference between what it pays people to give it money and what people pay to borrow it. That difference, these days, is tiny. 'This is probably the most difficult banking environment I've ever seen,' said Paul...

Some housing bubble news from Wall Street. "Tempe-based Clear Choice Financial Inc. announced Friday that it is insolvent, in default on several obligations and has laid off 120 of its 150 workers nationwide. The company, with corporate headquarters near Southern Avenue and McClintock Drive, also...

The Telegram reports from Massachusetts. "The market for single-family homes and condominiums is in the midst of a correction that has seen sliding sales and prices. 'Realtors are not hungry, they’re starving,' said Vaios Theodorakos, who owns about 400 rental units around Worcester County. 'The...

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The North County Times reports from California. "In 2004, Temecula resident Vicky Reiss, looked at skyrocketing real estate values and saw a second or third home as an investment that would eventually yield a profit. So when a co-worker told Reiss that she could use equity from rising values to...

A housing report from the Nevada Appeal. "A glut of overpriced properties and falling home values marked Carson City's housing market through 2006, housing experts say. Methods used to finance the boom in the past three years could prompt higher foreclosure rates in coming years." "In an auction...

The Morning Call reports from Pennsylvania. "The sellers of the 1,900-square-foot townhouse in Alburtis had agreed to leave the refrigerator. But their buyer, Lisa Gerancher, wanted the washer and dryer as well." "Had the transaction occurred a year ago, Gerancher might not have said anything....

Readers suggested a topic on subprime loans and responsibility. "A member of the Fed’s Board of Governors is coming to Tucson next Thursday. 'Economic Outlook and Developments in Mortgage Markets' series presents Susan Bies, member of the Board of Governors of the Federal Reserve System. The...

What do you see in your housing market this weekend? Any graphs? How about marketing? "Elisabeth Mills, VP in The Corcoran Group's East Hampton office, is not sitting back and waiting for buyers in this slow market. Last summer, as the market continued to chill, she took advantage of the potential...

The Ledger reports from Florida. "Carissa and Jerry Saus are suffering a seller's fate in a buyer's market. Despite a price drop of $15,000, the couple's home is still on the market after four months. But the home isn't much different than its neighbors, said Carissa Saus. 'Maybe that's part of the...

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The Press Enterprise reports from California. "The Coachella Valley's residential market isn't immune to the steep downward path housing is headed toward nationally, a regional economist warned Friday. 'The worst is not over. The worst is in front of us,' said Christopher Thornberg, a former senior...

A topic on the new media campaign, "How about a topic on the media blitz to sway public opinion in the new year? Is it really a good time to buy a house? What are the implications of in light of the recent report on subprime defaults?" "'The National Association of Realtors is launching a $40...

The Journal Gazette reports from Indiana. "Media reports on the housing bubble made consumers cautious about buying new homes, said Jim Lancia, president of Lancia Homes. Job losses at companies such as Waterfield Mortgage Inc., which shed more than 600 employees when the company was sold, also...

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It's Friday desk clearing time for this blogger. From New York, "On the housing front, those properties priced below a million dollars were down last year by 5 percent from August 2005 highs, said Chris Chapin, a broker in East Hampton. 'The hardest-hit range was from $1 million to $4 million,...

The Sacramento Bee reports from California. "After weathering one of their toughest periods in a decade, Sacramento-area home builders closed 2006 with a bang, boosting year-over-year quarterly sales of new homes for the first time since 2004 with steep price cuts and giveaways that often totaled...