The Housing Bubble Blog

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A Philadelphia Inquirer columnist has this on second homes. "One of my fantasies is to have a second home near a Vermont ski resort. As impractical as this is, I've watched the for-sale listings on Realtor.com and seen some appealing properties languish for months." "And a buddy of mine complains...

A Florida writer had a letter printed in the Sun Sentinel. "Re: 'Sellers be patient; buyer's market returns' (Monday): The headline suggests it's a good time to buy." "The housing market has slowed, inventories are way up, sales are way down, prices are flat. That's called a 'stalled market,' and...

Inman News reports the homebuilders in California didn't take advantage of the warm January weather. "California housing production dropped about 10 percent from January 2005 to January 2006, the California Building Industry Association announced today. Housing starts (as measured by building...

Danielle DiMartino writes at the Dallas News. "The Federal Reserve's survey of consumer finances for 2001-04 illustrates how vulnerable we are to a cooling housing market. As Merrill Lynch aptly put it, 'The Fed survey shows that this tide did not lift all boats.'" "As for paychecks, median income...

Even television stations in California are reporting on the housing bubble. Palm Springs, "The Valley's real estate market is cooling off. Depending on who you listen to, it's already in the deep freeze. That's bad news for people trying to sell their homes. It may be good news for people who've...

The Herald Tribune reports on the housing bubble in that part of Florida. "The Sarasota-Bradenton market had the dubious distinction of being the Florida market with the biggest decline in sales during January: a precipitous 48 percent drop when compared with the same month a year ago, more than...

This Australian report show what government officials think of a housing bubble after the fact. "The government would be happy to never see another housing boom, Treasurer Peter Costello says. Apart from WA and the Northern Territory, housing prices have flattened in recent times, after booming...

David Leonhardt writes at the New York Times. "You remember the great real estate crash of the 1990's, don't you? In New York, inflation-adjusted prices dropped almost a third in less than a decade. The fall was even worse in Los Angeles, and it wasn't pretty in Boston, San Francisco or Washington,...

A homebuilder is out with results after-hours. "'We are pleased to report first quarter results at the top of our guidance range,' said Ara K. Hovnanian, President and CEO of Hovnanian Enterprises. 'During recent months, market conditions in many of our more highly- regulated markets, including...

Inman News has this second piece on Phoenix. "New-home construction in the Phoenix area is analogous to the pink Energizer bunny's incessant drumming. 'It never really has slowed down,' said Michael Chasse, a home builder specialist with a land brokerage company. 'Since 1992 every year has been an...

The Register Guard reports on the predictable path of Oregons' housing bubble. "Three words say everything about the shape of Lane County's real estate market in January: selection, selection, selection. Buyers had more choices in January than at any time in two years, as the county's inventory of...

CNN Money has this on home loans. "Mortgage applications fell last week as lower interest rates failed to spur demand for loans to purchase homes, an industry trade group said Wednesday. The MBA's seasonally adjusted purchase mortgage index decreased 1.9 percent to 400.8 from the previous week's...

The California press reacts. "With unsold inventory continuing to grow, now at over 7,000 properties, according to the California Desert Association of Realtors, the valley market appears a far cry from the fevered seller's market of early 2004. The ramifications of a healthy residential market are...

The Boston Herald has the latest from Massachusetts. "Massachusetts house sales plummeted 21 percent last month, stoking fears that the housing bubble may have burst and could send shock waves across the economy. It was the biggest year-over-year sales drop in almost 11 years, as Realtors recorded...

Some reports on Floridas housing bubble. "The median price of an existing home sold in Palm Beach County in January fell to $393,700, well below the November peak of $421,500 and the first time the typical home has sold for less than $400,000 since July. Meantime, sales volumes plunged as buyers,...

Have a housing bubble photo? A shot of overflowing for-sale signs or what half a million dollars buys in your neck of the woods? Please send it by email to: photos@thehousingbubbleblog.com Make sure the resolution is 1600x1200 pixels or less and we'll do the rest. Also include a sentence or two...

The Contra Costa Times reports on a recent poll. "The random telephone poll taken from Jan. 16 to Jan. 23 shows that 40 percent of responders have seriously considered leaving the Bay Area. Of those, 70 percent said the high cost of housing was a major factor leading them to dream of cheaper...

The Florida realtors have their January numbers out. "Coming off several years of blistering home sales at a record pace, Florida's housing sector followed the national trend in January and showed signs of some market adjustments, according to FAR. Realtors from across the state report that more...

Another mortgage REIT has called off a press conference. "Saxon Capital, Inc., a residential mortgage lending and servicing real estate investment trust (REIT), today announced it is delaying its 2005 fourth quarter and year end earnings press release and related conference call. The Company...