Unsustainable And Illusory
A report from the San Diego Business Journal in California. "People in the market for a new home are starting to get a break as the San Diego County real estate market cooled down a bit in August and early…
Monsters Lurking Just Under The Waves
A report from the Dallas Morning News. "'Many of you are hearing the housing market is losing some steam,' James Gaines, the longtime economist for the Texas Real Estate Research Center at Texas A&M University, told members of the MetroTex…
Everyone Wants In On This Rocket To The Moon, Which Is Why The Clampdown Is Coming
A report from the News Press in Florida. "The Bonita Springs and Estero markets are still seeing price reductions each month, and area appraisers also report that current pricing is correlating with current appraisals for those properties accurately priced. For…
It Was Always What Nobody Thought Of Or Everybody Figured Couldn’t Possibly Happen
A weekend topic starting with Market Watch. "We all know that house prices are rising at a record pace right now, but few realize just how far from normal this is. For the entire 20th century, the annual average increase…
The Main Mechanism For Wealth-Building Goes Into Reverse
It' Friday desk clearing time for this blogger. "A price chop this big might cast some doubts on the world’s tallest residential tower. Gary Barnett’s Extell Development has sold a sponsor unit at its Central Park Tower at 217 West…
Investors Threatened To Jump From A High-Rise Building To Protest Rapidly Declining Value
A report from KCCI on Iowa. "Ted Weaver, the president of the Des Moines Area Association of Realtors, tells KCCI the housing market is starting to stabilize. Weaver said if someone is selling right now, the price has to be…
Excessive Indebtedness Without Real Income Or Assets To Support It
A report from Bloomberg. "Zillow has essentially dived into the house-flipping business, offering to quickly take properties off sellers’ hands. And in the process it’s helping pull Wall Street even deeper into the $2 trillion U.S. housing market. In August,…
A Wonder Drug That Cures The Macroeconomic Diseases It Causes
A report from Mortgage Professional America. "With more than 20 years’ experience in the mortgage industry, Kirk Tatom, the president of Dallas-based Tatom Lending, started his company back in 2007. As for clients who were still determined to get the…
Imaginary Wealth That Exists Only On Paper
A report from the Honolulu Star advertiser in Hawaii. "A Hong Kong-based company with plans to develop an Atlantis-themed resort along with two other big hotel and residential projects in West Oahu has been trying to sell all three properties…
A Ponzi-Like Scheme In Which Investors Were Taken For A Ride
It's Friday desk clearing time for this blogger. "The stratospheric housing market may be returning to earth. Through the first eight months of the year, 28,306 homes were listed for sale in Greater Columbus, up 13.5% from the same period…