The Housing Bubble Blog

Time Magazine looks at the housing bubble. "When Holly Schiller bought a town house in Fort Lauderdale in the fall of 2004, she figured she would pocket a profit before the place was even finished. Schiller, 51, and her husband had already flipped several properties in Florida's sizzling market,...

A pair of reports on housing from middle-America. The Columbia Missourian, "Columbia has too many new homes on the market, which some builders and Realtors say might force anxious builders to cut prices. Some of that anxiety is typified by (builder) Rhonda Carlson. She said the new construction...

Bob Casagrand at Realty Times has a July report on San Diego. "Homes sales continue to decline, sales for July were 2,396 versus 3,779 for last July. This is a drop of 37% from last year and a 19% decline from this June. July Pending sales were a dismal 2,310, which is a predictor for a continuing...

The Wall Street Journal has this look at the housing markets 'landing.' "Home prices in some parts of the country are falling. Builders are scaling back. Bubble or not, the biggest housing boom in recent U.S. history is coming to an end. Now here is the big question: How bad will the aftermath be?"...

The Herald Tribune has this update from Florida. "The Southwest Florida market for rental properties is all whacked out. In the affordable segment, the supply of apartments and rental houses is tight. But at the higher end of the market, there is a glut of properties aching for tenants. Observers...

Please post off-topic ideas, links and Craigslist finds here!

Several readers suggested a topic on moving to another part of housing bubble country. "I really liked the thread a couple of weeks ago about what people think about living/working/raising families in other parts of the country, particularly transplanted Californians; and no I don’t mean the...

The Galveston Daily News has this update from the coast of Texas. "When Jay and Stacey Torres put their island home up for sale in February, they expected to cash in on a market where prices were soaring and buyers were engaging in bidding wars. 'We expected it to fly,' Stacey Torres said. But...

One reader from Arizona had this comment. "My sister (roommate) told me the other day that our complex in Ahwatukee (off of Ray Road) is going to reduce rents. There are more apartments in our complex available now. This is a reversal of the notice we got 2 weeks ago which said our rents are going...

The construction slowdown is in the news in California. "The Inland region's economy slowed faster than that of any area in the state over the past six months, an economist who studies the area said. Economist Keitaro Matsuda in San Francisco, said local job growth had slowed mostly because of the...

What do you see in your housing market this weekend? Prices reduced? Poorly attended open houses? Here are a few observations from the topics thread. "St. Louis is all but dead, there is going to be a fairly strong pullback of prices in that market, IMO." "People must be getting desperate in Tampa....

The Nashua Telegraph has this update from New Hampshire. "Maggie Decker put her two-bedroom, garden-style condominium on the market in February for $149,900. She has lowered the price $8,400, has offered to pay closing costs and even threw in a warranty. Six months later, her Knightsbridge Arms...

Post off-topic ideas, links and Craigslist finds here!

In Business Las Vegas has this update from Nevada. "Renters worried about losing their apartment to a condominium conversion or looking for an apartment in a tight market with rising rents might be able to breathe a little easier in the coming months." "Condo conversion closings have fallen sharply...

Several readers suggested a topic about the Fed rate decision this coming week. "I think that the most important driver is the Federal Reserve. There’s pressure to raise a quarter given what has happened with other central bankers this week. And there is pressure to pause due to pressure on ARM...

The Washington Post has this update on the DC area. "A giant development company is withdrawing its offer to give a Virginia town an unprecedented amount of money in exchange for approval to build a subdivision, citing the cooling housing market for the change of heart. Centex Homes said it can no...

Readers want your opinion on how low will real estate go. "Topic Suggestion: How far down is down? Stated in terms like this; return to 2004 prices, 1997 prices, 1985 + 20% prices for your local market." A reply, "My own opinion, based on observing a couple of downturns here in Australia. 'Soft...

The New York Times has this report titled, 'The Houses That Wouldn’t Move.' "Lynn and Frank Balducci's house in Bethpage, N.Y., should be a real estate agent’s dream. The Balduccis put their 1951 colonial on the market in early May. They held seven open houses, but they still had not gotten a...

It is Friday desk clearing time for this blogger, starting in Virginia. "Local sellers stuck in the mindset of 2005 are learning a new mantra in the world of real estate: reduction, reduction, reduction." "Since last year, the area’s available housing inventory swelled to more than 12,000 listings....

A pair of reports on California homebuilders. The Press Democrat, "Feeling the blow from the housing market's downturn, Sonoma County's largest home builder, Christopherson Homes is laying off 18 percent of its employees over the next three to six months, company officials said Thursday. 'We hope...