The Housing Bubble Blog

Post off-topic ideas, links and craigslist finds here.

The Columbian has this update on the condo market in Washington. "With Clark County single-family home prices rocketing upward in the past 18 months, demand for condominiums and townhouses should be rising, right? But according to the MLS for Portland-Vancouver, condo and attached home sales have...

The Arizona Daily Sun has this headline this morning; 'Hot housing market starts cooling off. "Home prices in Flagstaff have remained relatively stable since last year's massive increase, but homes are staying on the market longer as buyers take their time." "Statistics from NAAR show homes staying...

An update from the Bakersfield Californian. "The days of instant equity are over. The real estate market's torrid pace has slackened. Interest rates are on the rise. Introductory rates for exotic loans are ending. And tens of thousands of homeowners are starting to miss mortgage payments." "About...

What do you see in your housing market this weekend? Motivated sellers? Builder incentives? Here is one from the Twin Cities. "Some metro homeowners frustrated with a slowing home sales market are using innovative incentives to attract buyers. The seller of a 1926 Tudor is offering a free car for...

The Boston Globe has this update from Massachusetts. "The decline in real estate sales, coupled with a surge in the number of available properties, is forcing some sellers into a bind. Already smitten with a new home, they must make tough decisions. Do they slash their asking price in order to...

Please post off-topic ideas, links and Craigslist finds here. This thread will be forwarded through the weekend.

A trio of housing bubble reports from Florida. "Realtor Art Broslat is concerned that there are still thousands of empty platted lots in both North Port and Port Charlotte, all owned by different people with different ideas and timetables." "'The thing that concerns me is that..land prices are...

Several readers wanted to discuss the economic effects of a bursting housing bubble. "All of the growth in the last 5 years has been driven by debt. We’ve had anemic job growth, no real wage gains, a government going more and more into the red qnd consumers with all time debt and no savings. A...

A pair of reports from California. The Union Tribune, "Shares of Brookfield Homes dipped yesterday after the company cut its full-year forecast for home sales, mostly because of slowing markets in San Diego and Washington, D.C. The company, which also builds homes in the Bay Area and greater Los...

A few readers suggested a topic on what we should be expecting from the various governments/institutions in regard to the housing bubble. "I wouldn’t want this to turn into a 'political' discussion. Without getting into party stances, what I’m wondering what type of leadership are we looking for as...

The New York Times has this report on Manhatten condos. "Condominiums have become a familiar sight in Manhattan in the last couple of years. But as these condos are marketed, each carrying sky-high prices and a competitive list of amenities, and still more are breaking ground, it is hard not to...

Well it's desk clearing time and it's going to be a lu-lu! "Dominion Homes Inc., which sells homes and offers mortgage financing services, said revenue from home sales dropped 46.2 percent in the second quarter, compared with the same period last year." From Hawaii. "The median home price on Oahu...

The Capital has this report on the Annapolis, Maryland housing bubble. "Anne Arundel County home sales dropped 31 percent last month, as owners continued to cut prices in a softening real estate market, area real estate agents and analysts said this morning." "But that's the bad news. The good news...

The Las Vegas Review Journal has the June numbers. "The number of homes for sale in Las Vegas topped 20,000 in June, an all-time high and up 32 percent from the same month a year ago, the Greater Las Vegas Association of Realtors reported Thursday. Climbing inventory, as well as a flattening of...

Some housing bubble reports from Wall Street and Washington. "Federal Reserve vice chairman Donald Kohn said the US central bank must heed the lessons of the 1970s by keeping inflation and public expectations about inflation in check. Kohn said the US central bank had a key role to play in...

The Rocky Mountain News has some numbers for June. "Home sale prices soared to record levels in June, as buyers continue to snap up expensive houses in the Denver area, even while the number of unsold houses on the market also set a record, according to reports. The number of unsold homes rose to...

A pair of reports from Florida. "Only 221 builders applied for new-home permits in Port St. Lucie last month, compared with 752 in June 2005 and monthly averages above 500 each year since 2003. The city's new-home starts have dwindled nearly every month this year, with 375 permits issued in...

Please post weekend topic suggestions here! Don't forget to send in housing bubble pictures to: photos@thehousingbubbleblog.com

Some housing bubble reports on California. "Brookfield Homes said late Thursday net new orders for the second quarter totaled 255 units, down 49% from the same period last year. Brookfield said the decline in new orders continues to be primarily in the San Diego/Riverside, Calif., areas and...