The Housing Bubble Blog

A report from the Real Deal. "Big money will be deployed into cash-deprived real estate funds. 'We are seeing some investors that are pretty distressed, but if we compare it to previous crises it doesn’t seem to be as widespread,' said Goldman Sachs managing director Harold Hope." From Bisnow New...

A report from Business Insider on Florida. "Ken Griffin is selling both of his Miami Beach penthouses for at least a 20% loss, Katherine Kallergis reported for the Real Deal. Griffin bought the two Faena House penthouses in 2015. At the time, the $60 million transaction was the most expensive sale...

A report from Bisnow on Georgia. "With government support for embattled workers evaporating, apartment rent collections are worsening as the year comes to a close. 'In November, it came crashing. We saw the entire momentum shift,' The RADCO Cos. CEO Norman Radow said during Bisnow's multifamily...

A report from Mansion Global. "New York native David Kramer, president of Hudson Companies. What has the Covid-19 experience been like for the company? It’s a better time to be a buyer than a seller, a tenant than a landlord. Every now and then New York City prices get out of hand; construction...

A report from DS News. "Nearly every metro area in America is experiencing peak seriously delinquent mortgage loans, according to a report from Nationwide economics. Levels are approaching the severity of the 2010 housing bust, economists say. 'The spike in mortgage delinquencies would normally...

A weekend topic starting with KPIX in California. "Rent collection has dropped from 80.4% nationally at this time last year to 75.4% at the start of December. Meanwhile tenants are fleeing urban centers left and right. 'I’ve even seen properties where they’ve dropped the rent 50% and they still...

It's Friday desk clearing time for this blogger. "Gary Yard is a 56-year-old West Springfield homeowner facing foreclosure. When he and his wife took out a second mortgage on their three-family home in 2010, their interest rate jumped from 7.9% to 14.9% within the span of a few years. He added,...

A report from DS News. "Delinquencies are at an all-time high— 'that's the headline,' Rick Shagra, SVP at RealtyTrac said but suggested that listeners consider some factors before panicking or view this like we would have viewed serious delinquencies a decade ago. The exception to the rule might be...

A report from Reuters on New York. "Clarence Hamer doesn’t expect to hang on to his house much longer. His downstairs tenant owes him nearly $50,000 in back rent on the four-bedroom duplex he owns in Brownsville, Brooklyn. Without those rental payments, Hamer has been unable to pay the thousands he...

A report from Mortgage News Daily. "Black Knight says condos have seen a large increase in availability. This is especially apparent in some of those very cities, such as San Francisco, that homeowners are leaving in droves. While delinquencies spiked among all housing types in the spring, the gain...

A report from Bisnow on Illinois. "High property taxes are a hot-button issue across the state, with many commercial owners already crying foul. 'When I used to give presentations on the state budget situation, I’d joke that we should make sure to lock the windows on our 51st-floor office because...

A report from Bisnow on Florida. "Ed Easton started his industrial real estate company, The Easton Group, in 1974. He now controls about 5M SF of space. Nearly 1,000 people per day move to Florida. 'Historically, each person needs 74 SF of warehouses when they come here. So you just multiply the...

A weekend topic starting with Bisnow New York. "Cushman & Wakefield Vice Chair Joanne Podell, a veteran retail broker in New York City, speaks about the future of luxury strips like Fifth Avenue. 'There are two kinds of landlords,' she said. 'The landlords that are not overleveraged and the...

It's Friday desk clearing time for this blogger. "After a hefty price cut, Italian fashion scion Massimo Ferragamo has off-loaded his Manhattan apartment for $11 million, WWD has learned. Ferragamo found that his Manhattan duplex apartment had become surplus to requirements and put the...

A report from Denver 7 in Colorado. "A homeowner in Littleton says because he deferred his mortgage payments through the CARES Act forbearance program for those impacted by COVID-19. As soon as he was able to begin paying again, he was told he must pay about $23,000 in past mortgage payments within...

A report from Arlington Now in Virginia. "This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based realtor. Question: Did the volume of homes listed for sale recover after a slow spring/summer? Answer: There has been a surge of new inventory coming to market since...

A report from the Wall Street Journal. "U.S. employees started heading back to the office in greater numbers after Labor Day but that pace is stalling now. The low level of employees at their desks is intensifying the pain for cities geared toward office life. Cities’ populations are falling....

A report from Forbes. "Sagaponack, New York’s 11962 marked its third consecutive year as the second most expensive Zip code in the United States. Its $3.875 million median price was the result of a 10% year-over-year drop — the fourth year in the past five that this exclusive Hamptons community’s...

A weekend topic starting with the New York Post. "New York has 20 of the 100 priciest ZIP codes in the nation, but for the first time the city doesn’t have a single one in the Top 10. The biggest price dip was 38% in the Garment District’s 10018, which dropped from 26th to 84th. Manhattan’s fall is...

A report from the San Francisco Business Times in California. "An iridescent San Francisco luxury apartment tower stretching 42-stories toward the sky has been welcoming residents over the past year, but a subcontractor involved in making the project a reality alleges that there is unfinished...