The Housing Bubble Blog

A report from Crain's New York Business. "The city’s hotel industry is in free fall, as occupancy and room rates have plunged and a growing number of chains have shuttered locations due to the dramatic drop-off in business as a result of the coronavirus crisis. 'We’re bleeding as far as occupancy...

A report from the Wall Street Journal. "The coronavirus has been sending shares of elder-care facilities into a tailspin over concern that any additional contagion in senior-care buildings could hurt operations and lead to occupancy declines. Shares of health-care real estate investment trusts have...

A report from the Wall Street Journal on Texas. "The Houston office market is poised to become the next commercial real estate victim of the economic shock waves from the coronavirus crisis. Houston’s problems also are closely watched along with other property markets because of broader concern...

A report from the Times of London in the UK. "'For UK corporates, this is their Waterloo,' said a restructuring expert. 'What happens over the next few weeks will define what happens over the next few years, and whereas the financial crisis 10 years ago was about balance sheets, this is about...

A report from Oregon Public Broadcasting. "Calls are mounting in Portland for elected officials to temporarily ban evictions, as the coronavirus pandemic throws the ability of low-wage workers to make their next rent payment into question. To protect renters, lawmakers in Los Angeles, New York and...

A report from the Palm Beach Post in Florida. "As the coronavirus spreads, travel and other economic activity has slowed or stopped. Florida’s $1 trillion economy relies on tourism more than most states, so the slowdown here is likely to be especially dramatic. 'Florida is vulnerable because travel...

It's Friday desk clearing time for this blogger. "California home prices and sales are likely to fall as a result of the coronavirus, according to the California Association of Realtors. Kalena Masching, a Redfin agent in Silicon Valley, saw a sudden shift in the market this week. Last Thursday, on...

A report from the Globe and Mail in Canada. "Every financial market you can think of is in an uproar right now, but not Toronto real estate. John Pasalis, president of Realosophy Realty said there’s a sense among buyers, fed by commentary from economists and the housing industry, that the only...

A report from Bloomberg. "The U.S. housing market, which was headed for a hot spring-selling season, may not be so healthy after all. Some owners will choose not to list their properties until the crisis is over, fearful they won’t get a good price. But in a recession, others could be forced to...

A report from Realtor.com. "In sharp contrast with H1N1, COVID-19 comes at a time of contraction, after years of frantic expansion, with an economy on a slowing trajectory. Job creation, GDP, and consumer confidence are all decelerating but still at historically strong levels. The coronavirus also...

A report from the Daily Independent in Arizona. "In the southeast corner of Avondale Boulevard and Thomas Road, the Oak Park subdivision has been a part of the Avondale community for over 10 years. But its population is 0. No one lives there. As of March 6, only four unoccupied houses are within...

A weekend topic starting with Yahoo Finance. "The Federal Reserve slashed interest rates by half a percentage point last week, citing a need to protect small- to medium-sized businesses from the economic ripple effects of the coronavirus. But a Seattle-based regional bank doubts that lower interest...

A report from the Buffalo News in New York. "In a victory for the former owner of Monarch 716, a state judge in Buffalo has ruled that the lender who foreclosed on the West Side student housing property is not entitled to go after the Rochester-based developer for more money because its appraiser...

It's Friday desk clearing time for this blogger. "There are some very real discussions going on amongst real estate industry professionals on social media platforms and at ongoing conferences about what effect the virus may have on the industry. With the potential for summer vacation plans being...

A report from the Vancouver Sun. "'Forget Canada. We’ll go somewhere else.' That’s what West Vancouver realtor Nicole Lee says many rich clients from Asia are telling her now that B.C. has brought in a foreign-buyers tax on housing, along with a speculation and vacancy tax. The veteran realtor...

A report from the Orange County Register in California. "California ranks high on a national scoreboard of yet another unflattering real estate trend: rapidly cooling home appreciation rates. Source: My trusty spreadsheet filled with Federal Housing Finance Agency data. California was home to three...

A report from Bloomberg. "As the outbreak spreads, real estate markets in the U.S. and other countries that rely on Chinese buyers face a looming crisis as deals languish and potential purchases are delayed indefinitely. From Vancouver to Singapore, realtors are facing the same problems as their...

A report from the Dallas Morning News in Texas. "Dallas-Fort Worth is the country’s top apartment building market with more than 26,000 new rental units opening this year. Another 16,000 apartments are set to open their doors in Houston in 2020. 'Are we overbuilding or are we not building enough?'...

A report from KOLD in Arizona. "The stock market dropped more than a 1,000 points amid worries about the novel coronavirus — concerns over the outbreak may impact the housing market, too. Tucson real estate broker Karl Kretzel said fear over the virus, now called COVID-19, can make people skeptical...

A report from the Wall Street Journal on New York. "An investment firm owned by Japan’s SoftBank Group Corp. bought the defaulted mortgage on a downtown luxury condo tower, the latest sign that a wave of investors is scavenging the wreckage of Manhattan’s condo glut. Fortress Investment Group LLC...