The Housing Bubble Blog

It's Friday desk clearing time for this blogger. "Retired NBA star Deron Williams, formerly of the Brooklyn Nets, has finally sold his Tribeca penthouse at 35 North Moore St. for less than half its original asking price." "Condo inventory was up for the fourth consecutive month. GBAR President...

A report from Bloomberg on New York. "In pricey Manhattan, having a roommate or two is a traditional rite of passage. Now, as the city empties out and rents plummet, even recent college graduates are finding they can afford to live solo. In October, Manhattan studio rents tumbled 17 per cent from a...

A press release from Redfin. "The U.S. housing market has been on fire this year. But the condo market has missed out on much of the gains. 'Before the pandemic, it was challenging to find a condo in Seattle for less than $500,000, but now there are plenty selling for under $400,000,' said local...

A report from the Boston Globe in Massachusetts. "Greater Boston Association of Realtors noted that within the City of Boston, which accounts for about one-third of the region’s condo market, sales were up just 1 percent and the median price fell 6.9 percent, to $642,500. The number of listings in...

A report from the Orange County Register. "Skipped mortgage payments across California are jumping to levels not seen since the mortgage mess surrounding the Great Recession. Let’s start with a few numbers from mortgage tracker CoreLogic and its measure of 'seriously delinquent' home loans in...

A report from the Real Deal on New York. "Ladder Capital intends to foreclose on four Harlem rental properties owned by Isaac Kassirer’s Emerald Equity, after the firm defaulted on a $32 million loan. In April, Isaac Kassirer extended the maturity date for the loan from April 6 to Oct. 6, and...

A weekend topic starting with Real Estate Weekly. "For a fourth straight month the number of vacant apartments in New York City increased, according to a survey of the members of the Community Housing Improvement Program (CHIP). 'This is a housing crisis. Hundreds of thousands of apartments that...

It's Friday desk clearing time for this blogger. "Laura Loyd, a single mother of four had been laid off from her job at a resort in nearby Branson when tourism froze up from coronavirus. Tony LaGrand, who was the landlord at the time, had just turned 24 when he purchased the units in February....

A report from Bloomberg. "What’s flown largely under the radar amid the central bank’s efforts to bolster the economy, is the Fed’s role in pushing the $6.8 trillion mortgage-backed securities market to extremes. The Fed has bought more than $1 trillion of mortgage bonds since March, a record pace,...

A report from Bloomberg. "U.S. household debt rose slightly in the third quarter, reaching the highest level ever. Total debt increased 0.6% to $14.35 trillion from $14.27 trillion in the second quarter, the Federal Reserve Bank of New York said in a report. The gain was led by a surge in new...

A report from WTOP. "Bright MLS reports new listings of condos and co-ops in the D.C. metro in October were up 49.2% from a year ago, a 10-year high for the second month straight. That does not mean there is a glut of condos and co-ops languishing on the market." The Washington Post. "Anybody with...

A report from the Review Journal in Nevada. "Las Vegas’ housing market is defying logic. It has heated up with fast sales and a monthslong streak of record prices despite the bleak economy, raising the question locals often ask: Is the market in a bubble?” "Las Vegas’ unemployment rate, nearly 15...

A weekend topic starting with the Enterprise Record in California. "Building housing 'is not affordable,' said Kate Leyden of Chico Builders’ Association. In order to make housing 'affordable' for the county, (costing only one-third of the average monthly income) or about $500 a month, the same...

A weekend topic starting with USA Today. "'It was looking pretty bleak pre-Covid because of the transition away from bricks and mortar,' said Manus Clancy, senior managing director at Trepp LLC. 'We will see dozens and dozens of loans go into default and lenders will only be able to recover 30...

It's Friday desk clearing time for this blogger. "The sale of the 851-square-foot, one-bedroom unit of the Lumina tower at 201 Folsom Street has just closed escrow with a contract price of $999,000. But as the unit was purchased for $1.2 million July of 2016, according to a review of its deed, its...

A report from Realtor.com on Florida. "After three years of twists, turns, and foreclosure proceedings, Birdman’s mansion was finally sold for $10.85 million. The Cash Money Records co-founder purchased the Miami Beach, Florida, mansion back in 2012 for $14.5 million. Three years ago we reported...

A report from Mortgage News Daily. "Extremely serious delinquencies, those loans 150 days or more past due, reached historically high levels in August. Corelogic said the rate of delinquencies among those loans spiked to 1.2 percent, the highest level since at least January 1999, which we assume is...

A report from Click Orlando in Florida. "For the second time in two months, an Orlando sports legend’s sprawling home has become a little more affordable. Shaquille O’Neal’s Isleworth mansion can now be had for a reduced price. Shaq first put the 31,000-square-foot home on the market in 2018 for...

A report from the Daily Journal in California. "In San Mateo, rents have dropped an average of almost 15% since this time last year, according to reports from rental databases Zumper and Apartmentlist. The county’s median home sales price reached $1.8 million in August, up about $170,000 from April...

A report from the Los Angeles Times in California. "In the 90210 ZIP Code, based on 30 sales, the median price for single-family homes in September was $4.518 million, down 27.1% year over year, according to CoreLogic." The San Diego Downtown News in California. "Despite a slight decrease in rents...