The Housing Bubble Blog

From Tampa Bay Online in Florida. "More than a year after launching one of the area's most expensive condo conversions, Bay Communities is trying a novel approach to unload its unsold units at The Hamptons in Tampa Palms. The developer will sell 100 condominiums on Dec. 9 at a public auction, 40...

The New York Magazine. "Jeremy Kushnier waited until last year to buy his one-bedroom in Morningside Heights. 'I just got tired of paying rent,' says Kushnier. 'I wanted to build some equity.'" "So much for that: Sixteen months later, Kushnier’s selling his place and moving to Los Angeles. If he...

Some housing bubble reports from Wall Street and Washington. Paul Muolo, "We continue to hear tales that the subprime industry's loan buyback problem isn't getting any better. Bear Stearns has been identified as being one of the more aggressive Wall Street firms in terms of buybacks. One joke...

The New York Times reports on Arizona. "The number of unsold homes in the Phoenix area has soared to almost 46,000 from just a few thousand in early 2005. And builders are pulling back as fast as they can. They have little choice. Sales cancellations among big builders, not just here but around the...

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The Daily Bulletin reports from California. "Builders are cutting back in pulling permits in both San Diego and the Inland Empire. 'It's actually a very sharp pullback,' said Jack Kyser, chief economist with the L.A. County Economic Development Corp. 'But in Los Angeles and in Orange County,...

A housing report from the Christian Science Monitor. "Six months ago, the 1920s-era Southern bungalow in Atlanta's Kirkwood neighborhood probably would have sold at its full price asking price of $325,000. But after playing hardball with the seller in the past few months, Phil Hagedorn and his...

Some housing bubble news from Wall Street and Washington. "On Monday, Comstock Homebuilding Cos. said it swung to a quarterly loss of $5.8 million, from profit of $11.5 million in the year-ago quarter. The company said in the third quarter ended Sept. 30 it recorded a non-cash pre-tax charge of...

The Woodstock Independent reports from Illinois. "One year ago, the Parade of Homes trumpeted the opening of The Sanctuary in Bull Valley. 'We love it,' said Kristen Reyes of living in The Sanctuary. There is only one downside, according to Kristen. 'It's really lonely because no one lives here.'"...

The St Petersburg Times reports from Florida. "Jeanne Gavish met with clients Ed and Earlene Young last week to tell them the housing market would soon come back to life. 'You're staring daggers at me,' said Gavish, sitting in the Youngs' living room. 'No I'm not,' said Young. 'It's just that we...

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The Union Tribune reports from California. "Nationally and locally, home prices are trending downward for the first time in years, as buyers drive tougher bargains and some sellers, desperate to move, accept a cutback in their hoped-for windfall profits. 'I think it's safe to say that prices are...

My San Antonio reports from Texas. "Canyon Lake's billboards have evolved from advertising backwoods businesses to high-end developments. And it can mean only one thing: Canyon Lake has been discovered. Lots that a few years ago were choked with cedar are being cleared, with 'for sale' replacing...

The Missoulian reports from Montana. "The DeArments put their Jackson Street home in the Rattlesnake up for sale a couple of months ago, and got exactly one offer. Last week, that offer fell through. Now, depressed by their inability to sell the house, combined with the difficulty of finding...

The Post Standard reports from New York. "Onondaga County home prices fell during September, another sign that a buyers' market is emerging after a couple of years during which sellers had their way. The median price of the 447 houses sold in Onondaga County during September was $127,000, according...

What do you see in your housing market this weekend? Auctions? "Land, lofts and houses are ending up on the auction block as Metro Detroit homeowners and developers try to quickly clear hard-to-move inventory in the face of a cold housing market." "The bulk of the Terra Land Group's auction comes...

The Palm Beach Post reports from Florida. "The faster they rise, the harder they fall. That old saw aptly applies to new-home prices, and so it is that Palm Beach County and the Treasure Coast are now leading the retreat from a boom that saw sales skyrocket and prices soar for five consecutive...

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The Burbank Leader reports from California. "Housing sales in Burbank were down slightly in August compared to the same month in 2005 and the number of homes on the market has quadrupled, the Burbank Board of Realtors reported." "With more than 400 homes, condominiums and town houses listed for...

A housing report from the Arizona Republic. "Sales have finally started at the long-anticipated Fulton Ranch housing development in south Chandler, just as the Valley is experiencing a significant slowdown in the real estate market." "Fulton Ranch was conceived several years ago when the market for...