The Housing Bubble Blog

A weekend topic on the housing bubble starting with Bloomberg. "The yuan’s worst quarterly performance on record is raising the risk of capital flight. China’s currency has slumped 2.9 percent since the end of March, the most since the nation unified the official and market rates at the start of...

It's Friday desk clearing time for this blogger. "Since the beginning of this year, data from the CoStar Group shows investors and developers have traded a little over $4 billion worth of multifamily properties in South Florida alone, and most of those deals were struck in suburban parts of Fort...

The Herald Sun reports from Australia. "One in five apartments in inner Melbourne resold at a loss in the first three months of the year — the highest proportion in over a decade. And experts expect the number to continue to grow, as the 'huge amount' of new units coming on to the market impacts...

A report from Real Estate Weekly. "When The RADCO Companies CEO Norman Radow was in the workout business, his company foreclosed on $8 billion worth of real estate over two years. After the workout business, Radow transitioned into buying multifamily, 'because Fannie Mae and Freddie Mac were there,...

The Calgary Herald reports from Canada. "The benchmark price on single-family homes in the city last month was $500,500, easing three per cent from $518,000 during the same time in 2015, says the Calgary Real Estate Board. Quick possession home buyers turning to Calgary’s northwest saw prices dip...

The Traverse City Record Eagle reports from Michigan. "Chase and Brent Ritchie entered the housing market about a month ago with a firm $150,000 budget. 'It's sort of impossible in this market because as soon as you find something you like, there's an offer on it the next day,' Chase Ritchie said....

A weekend topic on some markets I missed in the excitement yesterday, the American Statesman in Texas. "Austin-area home sales and prices surged in May, the latest figures show, but some real estate agents says competition is easing a bit as buyers become more cautious with their bids. 'Buyers are...

It's Friday desk clearing time for this blogger. "San Francisco Realtor Brendon Kearney said there is some weakening in the San Francisco market. 'It’s definitely not as hot as usual' for this time of year, he said. 'I have had buyers pay 30 percent over asking to get the condo they wanted. I have...

Insider Louisville reports from Kentucky. "Ok, pop quiz! (applause) First question: In what month were Louisville homes selling the fastest? You guessed it, May! Second: What month had the lowest absorption rate in Louisville real estate history? Yes, again it’s May! How about a trick question?...

WZTV reports from Tennessee. "To rent or to buy -- that's a tough question as Nashville's 'it city' status drives an estimated 65 people to Music City each day. The continued boom means prices for both homes and apartments are rising, with builders working to keep up with demand. After years of...

CBC News reports from Canada. "The population of Grande Cache was 4,319 in 2011 according to the latest census but has reduced significantly in the past two years after nearly a third of the town's jobs were lost. Housing values have dropped by nearly half in the last year. Coun. Shawn Moulun's...

The Greeley Tribune reports from Colorado. "Weld County housing prices hit another milestone in May as the median sales price for the county shot up over the $250,000 landmark. During the past two years, the median price for single-family homes has risen 50.5 percent, from $172,700 to $260,000. But...

A look at supply and demand in a housing bubble, starting with Radio New Zealand. "Reserve Bank measures have had little success in reining in the market, with house price growth in New Zealand's largest city starting to accelerate again. According to figures from QV, the market has increased 15.4...

It's Friday desk clearing time for this blogger. "The U.S. housing market accelerated to its fastest pace on record in May, according to Redfin. 'After almost a decade of undersupplied housing stock, competition is fierce,' said Redfin chief economist Nela Richardson. 'What’s new in 2016 is that...

The Dallas Morning News reports from Texas. "With home prices spiking in many markets and fierce competition for houses from first-time buyers, investors are getting shoved to the side in many cities. High prices have also cut into investor profits from home rentals. Most of the slowdown has come...

The Saskatoon Star Phoenix reports from Canada. "It took Dennis Wells almost a year to sell his Forest Grove condominium. When he sealed the deal a few days ago, the two-bedroom unit went for $165,000 — more than $25,000 less than the asking price. 'The market’s not there now … I mean, you can buy...

WFAA reports from Texas. "North Texas is home to one of the hottest housing markets in the country. Real estate agent Beth Groenewald, says if you’re looking in this market, you either buy it or say goodbye to it. 'Jump on it, because it is not going to be here five minutes from now. It’s gone,'...

The Star Tribune reports from Minnesota. "Finding an apartment is still difficult in many parts of the Twin Cities but, with new ones being built at breakneck speed, that’s beginning to change. During the past three years, about 11,000 new apartments have hit the market, but only about only about...

A weekend topic on some writings starting with Cody Cain at Salon. "If you ask anyone what caused the devastating 2008 financial crisis, you’ll invariably receive the same answer: Wrongdoing by the Wall Street banks. This is no wonder because this explanation has been trumpeted everywhere. It’s all...

It's Friday desk clearing time for this blogger. "According to new data released by Corelogic, a national consumer information company, homes in Grand Junction are increasing in both price and value. News Channel 5 spoke with Kris McChesney, a realtor at Bray Real Estate, who said this increase is...