The Housing Bubble Blog

The Union Tribune reports on the San Diego housing bubble. "San Diego County's housing market was a quiet place last month as prices slipped in some areas and settled to an overall median of $505,000, DataQuick reported. The figure, off the all-time peak of $518,000 set in November, was only $1,000...

A housing bubble report from northern Virginia. "Grave concerns for the future of Falls Church’s City Center project are being voiced at the highest levels of City Hall, the News-Press has learned, given the precipitous collapse of the residential condominium market throughout the Washington D.C....

A pair of reports on the Long Island housing bubble. "The days of eye-popping monthly real estate gains are now the stuff of real estate lore. Though Island housing prices remain up year over year, Suffolk battled a moderate price drop in April and Nassau remained stable. Buyers have plenty of...

Some housing bubble updates on California. "Petaluma is making national news again, this time, for its high housing prices. According to a New York Times article, the Santa Rosa-Petaluma area is the third least affordable region nationwide. 'I think that we're much more affordable than people give...

The Dallas News reports the boom is running out of steam. "Has the North Texas housing market finally turned down? It's too early to say, but April's 13 percent drop in pre-owned home sales from a year ago should catch folks' attention." "April's decline was the biggest year-over-year slide in...

The Mail Tribune has this update on southern Oregon. "As more and more 'For Sale' signs sprout up along with May flowers, Jackson County homebuyers are displaying temerity unseen in recent years. For every four houses on the market this time last year, there are 11 for sale today. In west Medford,...

The FOMC minutes are out. "The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 5 percent. Economic growth has been quite strong so far this year. The Committee sees growth as likely to moderate to a more sustainable pace, partly...

A housing bubble report on New Jersey. "Last spring, Michael Segal put his Teaneck home on the market for $600,000, an asking price selected with the help of his Realtor. Buyers showed interest, but Segal said he decided it wasn't time to sell. This spring, the four-bedroom colonial is up for sale...

The Palm Beach Post reports on issues facing preconstruction condo buyers. "Here are some of the things we’re hearing from new condo owners who bought pre-construction condos. Lessons learned? Number One: Know what you’re buying." "Did you know 'decorator ready' means partly unfinished, as in, no...

The Boston Globe reports on rising defaults in the state. "Foreclosure filings against Massachusetts homeowners increased 30 percent in the first three months of 2006 and have doubled in the past three years, as homeowners in one of the nation's most expensive real estate markets struggle to cope...

More big media are jumping on the housing bubble bandwagon. "There are signs a housing slowdown that has gripped certain high-growth markets during the past few quarters, is now spreading nationwide. Preliminary reports from builders Hovnanian and Toll Brothers indicate demand is falling faster and...

Reports on Condo sales in two cities. "A planned $21 million Des Moines condominium project now deemed 'economically infeasible' is a sign that downtown's housing boom has shifted from high-end to more affordable, a national expert said Monday. 'The market has moderated somewhat on the demand side,...

The Washington realtors have April numbers out. "Home sales in western Washington dropped 8.6 percent in April from a year ago, as prices posted yet another month of double-digit growth, according to the latest figures from the Northwest Multiple Listing Service." "'I assure you we would have more...

Some housing bubble reports from Wall Street and Washington. "WCI Communities Inc. before the opening bell Tuesday lowered its 2006 earnings forecast on slowing demand for the company's active-adult communities, towers and expensive homes in its Mid-Atlantic markets." "The company said orders, a...

The St. Augustine Record has this report from Florida. "(Realtor) Arnold DeLorenzo, a respected voice in the local real estate market for 40 years, said houses for sale here may stay on the market longer than the sellers intend. 'We're saturated,' he said. 'The (housing) market is definitely...

The New York Times reports on the 'chill' in home buying. "Many Americans who planned on real estate as their path to wealth are beginning to find that there are limits to how high is up. As higher interest rates dampen demand, sellers are grudgingly lowering their prices to drum up interest." "A...

A pair of reports from markets in California. "The inventory of homes for sale in the Visalia/Tulare Multiple Listing Service as of May 1 stands at 1541; four times the number of homes that were on the market as of May 1, 2005." "There has been a complete turnaround with five listings for every...

The Miami Herald has some tips for housing bargains. "He was a government attorney making a lateral move to a federal agency in another city. Like all buyers, he hoped to get the best possible deal for his family on the home he would purchase in the new area." "On his first house-hunting tour, he...

The Sacramento Bee has this report on a rush for the exits. "When seven homes on one street are up for sale on a half-mile stretch of Aubergine Way, you get the idea a lot of area sellers want to collect on their investment. On another street nearby are three more homes for sale. Aubergine reflects...

Some housing bubble news from Wall Street to Washington. "Golden West Financial Corp., one of the last major savings and loans in California, agreed Sunday to be acquired by North Carolina-based Wachovia Corp., the nation's fourth-largest bank, for $25.5 billion in cash and stock." "'The mortgage...