The Housing Bubble Blog

The Palm Beach Post reports from Florida. "Palm Beach County's existing-home sales took the biggest nosedive in the state in the third quarter, plunging 49 percent compared with the same period last year, the Florida Association of Realtors said Monday. Treasure Coast sales also took a beating,...

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Inman News reports on California. "Luxury home values posted slight gains in Los Angeles, San Diego and San Francisco in the third quarter of 2006, as housing markets overall continued to see a slip in sales, according to an index released by First Republic Bank." "'This trend is due to growing...

An editorial from the Arizona Republic. "Thousands of tract houses are being built within the 10-mile emergency zone of the Palo Verde Nuclear Generating Station, the nation's largest. As my colleague Mark Shaffer reported, developers have filed plans for 107,000 houses on 33,000 acres in eight...

Some housing bubble reports from Wall Street and Washington. "Sales of existing homes fell in 38 states during the summer, led by steep declines in Nevada, Arizona, Florida and California, as the once-booming housing market showed further signs of a steep slowdown. The declines were the largest in...

The Greenwich Time reports from Connecticut. "After years of frenetic activity, builders are starting to show signs of restraint even in Greenwich. 'I've actually held off on pursuing new deals just to get a clearer picture of what's going on longer than the next six months,' Greenwich developer...

A housing report from the Tennessean. "Throughout much of what is considered the core of East Nashville, the rehabilitation market seems to have hit its peak. For the first time in five years, the area is experiencing a slowdown." "With rehabbers routinely asking for more than $300,000 for their...

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The Register Guard reports from Oregon. "The median sales price of homes sold in Lane County hit $223,000 in September, continuing a trend that saw median home values rise 50 percent from 2000 to 2005. In contrast, median household income in Lane County went up 30 percent in the same time period....

One reader suggested this topic. "Lawsuit rumblings are starting: Were you sold a Puffed Overinflated Home Value by a Developer? We’re looking for other folks that were 'puffed' on a home purchase that was supposed to appreciate to a value to cover the downpayment and never even came close." "Also,...

The San Francisco Chronicle reports from California. "The average price of a home area has fallen by about $100,000 to the high $300,000-range at Centex Homes developments in Sacramento, said John Ochsner, Centex's executive VP of the Northern California region. The decline in new- home sales in...

What do you see in your housing market this weekend? Auctions? New statistics? The Lowell Sun. "Several real estate experts have been quick to say that the current housing slump is nothing compared to that of the early 1990s. But in at least one sense, it is. A total of 12,945 foreclosures were...

The Naples News reports from Florida. "Ross McIntosh sold his home for $735,000 when there were several other homes in his neighborhood listed for $790,000. Some lowered their prices to $760,000 and, after months on the market, one recently sold for $675,000." "'There is a lot of speculation about...

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The Review Journal from Las Vegas. "Home sales in Las Vegas, which have tumbled by double-digit percentages in recent months, fell again in October. Sales for new homes and existing homes both dropped sharply. There were 2,934 resales in October, down 35.7 percent from the same month a year ago,...

Readers suggested the topics of price drops and and statistics. "Is anyone else starting to see early signs of capitulation? In 2 DC area zips which I follow I’ve recently seen a few homes offered at considerably lower prices than the others." "Ex.: In one neighborhood $339,000 for an older 3...

The Journal Sentinel reports from Wisconsin. "Hard bargaining and a molasses pace mark the home-selling trade these days. 'So many people have had their houses up for sale for months and months,' said appraiser Paul Vozar in West Allis. 'I'm seeing concessions anywhere from $1,000 to $5,000 in...

A housing report from the New York Times. "In the last few years, renowned architects and enterprising developers have rushed to put their stamp on Manhattan with contemporary condominium buildings that have seemed far more inventive than the staid old co-ops of the Upper East Side. But now, they...

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It's desk clearing time for this blogger. "If you are squarely in the 'blame the media for the housing slowdown' camp, you are going to love this. The vast majority of Americans are optimistic about what will happen with home prices, according to a nationwide survey." "'The poll clearly debunks the...