A Bubble Of Epic Proportions

Readers wondered this morning, "How about that Chinese stock market?" A reply, "Didn’t we talk about it enough Friday? It was an expected correction that the Chinese are making sure goes no further." The Hong Kong Economic Journal. "Some mainland investors have borrowed money against their US real...
Read more (106 comments)

Money Laundering, Speculation And Low Interest Rates

It's Friday desk clearing time for this blogger. "More Americans who recently went through foreclosure or bankruptcy are getting home loans. A new wave of nonbank lenders is bringing these risky buyers back into the housing market some seven years after the mortgage meltdown. The lenders are...
Read more (83 comments)

The American Dream Continues To Fizzle

The Real Deal reports on New York. "There are at least 99 single-residence listings priced at $30 million or more in Manhattan, according to New York real estate appraiser Jonathan Miller, a staggeringly high number by historical standards. And how many potential buyers for these pads are out...
Read more (84 comments)

The 'You’ve Got To Get Into The Market Now' Feeling

A report from the Associated Press. "Real estate has gotten hot again. Home sales are on pace for their best year since 2007. First-time buyers are streaming back into the market. Prices are skyrocketing, aided by a stronger job market and tantalizingly low mortgage rates that are creating pressure...
Read more (68 comments)

A Stress Test

A report from the National. "Last week, a group of economists, in a survey going by the rather ironic name of 'The Lebanese Economic Outlook,' acknowledged the elephant that many of us have noticed sitting in the room for the past two years: namely that the local housing market and construction...
Read more (50 comments)

A Natural Big Lie

The Globe and Mail reports from Canada. "Emma Co has been a real estate agent for several years in Vancouver, but she’s never seen the market so fired up, particularly on the city’s east side. 'I can’t believe this market,” she said. 'I was talking to one realtor, and she said, 'where is this...
Read more (26 comments)

The Short End Of The Stick

The state of the housing bubble is the weekend topic. Reuters, "Housing stocks rallied on Friday and the industry group should get more good news next week, though sustained and robust future gains may depend on wage growth and other signs of improving home affordability. The median home became...
Read more (89 comments)

The Widely-Held Impression Explained By Psychology

It's Friday desk clearing time for this blogger. "Chinese buyers topped Canadians to rank as the biggest foreign purchasers of U.S. homes by both sales and dollar volume, accounting for more than a quarter of all international spending. Buyers from China have helped drive up prices in Cambridge,...
Read more (139 comments)

It Seems Like The Floodgates Have Opened

A report from CNBC. "More than 60 percent of builders surveyed in May reported that the overall supply of developed lots-that is, with all the necessary infrastructure to build homes-was low to very low, according to the National Association of Home Builders (NAHB). That is the highest percentage...
Read more (65 comments)