The Housing Bubble Blog

What do you see in your housing market this weekend? Incentives? Growing inventories? Here are some examples from the topics thread and the web. "Tucson and Essex County, Mass. both made our annual list of the most overpriced places in the United States. In fact, Essex County, which lies north of...

A trio of reports on speculation in the housing market. South Carolina. "Downtown real estate is headed for a midcourse correction after an initial period of euphoric sales, developers, real estate agents and analysts say. Columbia’s downtown housing boom started with prices skyrocketing up to...

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

The Daily Breeze has this update from California. "In June, 3,160 homes were on sale in the South Bay, up 180 percent from June 2005, when 1,127 homes were on the market." "Shorewood co-owners Arnold Goldstein and Larry Wolf said, 'there is no longer any doubt that buyers in the current market...

Several readers suggested the topic of foreclosures. "We know foreclosures are on the rise, but how many will it take before lenders say 6.48% is not enough return to cover the risk we’re taking? As a personal investor, I wouldn’t loan anyone money to a home right now unless I was getting at least...

A pair of reports on age and homeownership. "Earlier this year, Clay Weiner 29, and Rachel Comey, 31, a fashion designer, bought a piece of the American dream in Greenport for $640,000. The couple, who split their time between Manhattan and Greenport, use two of the three floors of the converted...

Some housing bubble reports from Florida. The Bradenton Herald, "52 percent-fewer single-family homes were sold in Manatee County in June than a year ago. 'Definitely I think the bubble burst. If it hasn't, it's leaking badly,' said (realtor) Helen Robinson." "One area where the downturn is more...

It's Friday desk clearing time! "Just more than one year ago I wrote in this column 'the residential real estate bubble isn't ready to burst.' Now I can say it already has. The process of correcting the biggest housing boom in history is under way." The Cape Codder. "In what real estate...

The Tampa Tribune takes us back to Florida. "My, what a difference a year makes. Builders who overestimated this summer's new home demand face contract cancellations and slowing sales as a backlog of nearly finished houses piles up. The builders' problem could mean big breaks for buyers." "Just...

A pair of housing analysts have predictions out today. "Real estate economist Gary Watts has revised his optimistic forecast for the Orange County housing market, telling an industry gathering this morning that he expects prices to go up 11 or 12 percent in 2006, and saying the gain could even be...

The Herald Tribune reports from Florida. "When it comes to competing to land manufacturing jobs, Florida just doesn't stand a chance. Never was that reality clearer than on Thursday, when the state received a double-barreled message: North Carolina will gain not only a new Chris-Craft Corp. boat...

Housing industry insiders are talking in California. "Leslie Appleton-Young is at a loss for words. The chief economist of the California Assn. of Realtors has stopped using the term 'soft landing' to describe the state's real estate market, saying she no longer feels comfortable with that mild...

Some housing bubble reports from smaller markets. The Salt Lake Tribune, "The Wasatch Front's residential real estate market began to take off in early 2005, years after housing markets in other states such as Arizona, Nevada and California began to heat up. Those markets have now begun to cool...

Post weekend topic suggestions here! Don't forget to send in your housing bubble photos. We're a little behind with the new thumbnail gallery and server upgrade, but hope to have everything finished soon. photos@thehousingbubbleblog.com

Some housing bubble reports from California. "Bay Area home prices are slowing, an indication that the housing market has entered a post-boom era in which buying a home no longer guarantees a profit. 'A few more people are hitting the affordability wall,' said Ron Gable, (broker) in Half Moon Bay...

The Wall Street Journal has this report on the housing market. "The Wall Street Journal gathered data on inventories of homes for sale at the end of the second quarter from a variety of local sources. Metro areas showing large increases of homes for sale and relatively weak employment growth...

The largest homebuilder in the US had a conference today. "D.R. Horton Inc., the nation's top residential builder by units, said Thursday its third-quarter profit dropped 21 percent due to a tighter housing market. 'Selling conditions are very difficult in the homebuilding industry,' Chairman...

The Union Tribune has this update from San Diego. "Widely seen as a forerunner in national real estate trends, San Diego County is being viewed 'with some trepidation' by lending giant Fannie Mae as its housing market cools. 'Inventories have surged in San Diego and the surrounding areas,' Fannie...

Some housing bubble reports from Florida. "Incomes throughout Florida have failed to keep pace with runaway home prices. Since 2003, median home prices in Florida have soared 77 percent as the real estate boom swept the state, but incomes grew a meager 1.4 percent. One West Palm Beach man doesn't...

The Fairfax County Times has this update from Virginia. "Oh what a difference a year makes in Northern Virginia's once red-hot home real estate market. For most of 2005, Realtors were bemoaning a lack of inventory as desperate buyers all but wrestled each other to make the first offer. Ask those...