The Housing Bubble Blog

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A report from the New Zealand Herald. "It appears that Auckland's housing bubble is indestructible if one bank economist is to be believed. BNZ's chief economist Tony Alexander is forecasting the city's house prices will go up by 14 per cent this year, just as they did last year. 'Short of a...

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A weekend topic around some comments in the desk clearing post. One reader said, "In the 1970s I remember having a long discussion with my uncle about all the doomsayers. Going off the gold standard, nuclear war, economy tanking, the end of the world…..all that stuff. His advice: proceed with life,...

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It's Friday desk clearing time for this blogger. "Rather than settle for garages of antique cars or a museum's worth of paintings, billionaires are increasingly willing to pay $100 million for homes that can serve as showcases for their fortunes, according to an analysis by Christie's International...

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Reuters reports on Canada. "Bank of Canada Governor Stephen Poloz said it was not unusual to see an overvaluation in home prices given the market's long rally but reiterated the country was not in the midst of a housing bubble. The central bank has estimated the housing market is overvalued by 10...

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The Wall Street Journal reports on Brazil. "Brazil’s largest mortgage lender has sharply reduced credit for the nation’s home buyers, dealing a blow to the real-estate sector and to Brazil’s struggling economy. State-run Caixa Economica Federal, the bank responsible for about 70% of Brazil’s home...

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Bloomberg reports on Texas. "Millennials overwhelmingly prefer western cities such as Houston and Denver, according to William H. Frey. a demographer at Brookings. The New York City region lost 20,369 millennials from 2010 to 2012, Census Bureau data show. In Austin, millennials have been migrating...

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The Monterey Herald reports from California. "The number of homes for sale in Monterey County in March hit its second lowest point in 20 years. Scarcity has helped increase the countywide median home price to $515,000. 'It’s not good for buyers … we were really surprised it became a sellers’ market...

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The used house salespeople ponder the housing bubble. "This spring buying season is off to a strong start—in fact, prices are going up faster than they were just a few months ago, according to nearly every recent metric. So does that mean we’re in a bubble? Nope, that’s just what happens when...

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It's Friday desk clearing time for this blogger. "When discussing Wednesday’s news that existing home sales climbed in March, National Association of Realtors chief economist Lawrence Yun said the 7.8% yearly rise in March’s median price was unsustainable. 'This price gain of near 8% is not...