The Housing Bubble Blog

A report from the Globe and Mail in Canada. "The condominium market in Calgary remains mired in a lengthy slump that has resulted in falling prices and a growing glut of new units that are sitting empty. 'The condo sector’s been struggling for some time,' said Ann-Marie Lurie, CREB’s chief...

A report from News 3 Las Vegas in Nevada. "Tom Blanchard, President of Las Vegas Realtors, dismisses any speculation that the Las Vegas real estate market is headed for a bubble. 'There is no bubble,' Blanchard said, 'We are still undervalued compared to the surrounding states. Vegas is still a...

Two reports from the Wall Street Journal. "The pandemic has raised important questions about the future of New York City. Clues to the answers—or a way to bet on them—can be found daily in the price moves of four real-estate investment trusts that have a majority of their assets in New York and...

A report from Business in Vancouver in Canada. "Metro Vancouver’s condominium rental market – which involves approximately 69,000 units owned by investors is riding out the pandemic well, but tenants are increasingly taking over the driver’s seat. 'The condo rental market has definitely come off....

A report from the Record Eagle in Michigan. "Linda Witulski fell in love with Elk Rapids about 15 years ago on a vacation. She bought a home in the Lake Michigan shoreline village and turned it into a short-term rental about a decade ago. But now she’s worried a proposed new zoning code in Elk...

A weekend topic starting with Market Watch. "Commercial real estate’s COVID-19 woes can’t be patched up with more debt. That’s Lisa Pendergast, executive director of the CRE Finance Council, an industry group focused on the $4.6 trillion commercial real estate finance market, on the pile of...

https://www.youtube.com/watch?v=cz19VnxDJ-8&feature=youtu.be

What's your housing bubble prediction? From six months ago. "The end of the year is going to be very different from the beginning of the year. The year will start off well, and those in defensive positions (cash, The Precious) will take a hit. Then the shenanigans — low interest rates, repo market,...

It's Friday desk clearing time for this blogger. "Not being able to pay rent is a big stressor as thousands of Washingtonians remain unemployed. It’s causing stress not only for tenants but also for small mom and pop landlords. 'My husband and I invested in three rental properties as a source of...

A report from the New York Times. "The coronavirus has dealt a blow to the Manhattan real estate market unmatched in recent history, and the prospects of a near-term recovery remain unclear. The median sales price fell 17.7 percent, compared to the same time last year, to $1 million, the biggest...

A report from the Wall Street Journal. "The new coronavirus epidemic in New York obliterated the spring selling season, according to a Wall Street Journal analysis. Apartment sales were down 54% in the second quarter compared with the same quarter in 2019. That was the lowest total since 2005, the...

A report from ABC News in Australia. "Owners of units in Sydney's Opal Tower have launched legal action against the NSW Government after discovering more than 500 new defects in the beleaguered building. Apartment owner Andrew Neverly said he had bought the unit as part of his retirement plan, but...

A report from CBS 12 in Florida. "Florida is ranked fifth in the country for mortgage delinquency, according to Black Knight. Right now there are almost 94,000 unemployment claims in Florida according to the state's Department of Economic Opportunity. Despite this, experts say they do not expect a...

A report from Medium on California. "Jurdon Gold had been a renter almost his entire life. Born Oakland, Gold, like many in the Bay Area, had never lived in a house he or his family owned. That changed in 2015, when he and his wife began looking for a new place to live after their wedding....

A weekend topic starting with Danielle DiMartino Booth at Bloomberg. "The Covid-19 pandemic arrested the plans of millions of Americans to purchase a home. But what if you lock someone down in a home they had already mentally moved out of? Might they pour their energy into touring homes online to...

A report from the Oregonian. "Tenants who still have a source of income are finding that rents are flattening, to their benefit. And some apartment managers, hoping to fill units in a market that had a recent flood of new buildings, are offering incentives and move-in specials. Harrison Tower near...

It's Friday desk clearing time for this blogger. "Rising mortgage delinquency rates in Florida are raising fears that the coronavirus pandemic will lead to a foreclosure crisis as bad if not worse than the one that followed the 2008 housing crash. 'At some point, the foreclosure moratorium will end...

A report from Los Angeles Magazine in California. "'The hysteria over what’s happening right now is simply out of line with reason and reality. The Great Recession was driven by the collapse of a $15 trillion subprime bubble. Back then the housing market was vastly overinflated, we had a massive...

A report from The Wall Street Journal on Florida. "U.S. prosecutors are looking to seize a penthouse in a luxury condominium tower in Miami that they say a son of the Republic of the Congo’s president bought with money embezzled from the country’s state-owned oil company. Denis-Christel Sassou...

An editorial from Jonathan Miller in Forbes. "When the Covid-19 crisis began half way through March, the Manhattan housing market was placed on 'pause,' as were many housing markets around the country. That was the beginning of the problem this crisis posed for the industry that lives and dies on...