The Housing Bubble Blog

It's Friday desk clearing time for this blogger. "In the last couple of weeks the market has slowed down, according to real estate agent Jared Dunn. He says it's not necessarily dismal, but they haven't seen homes flying off the market in a number of days, or even hours like they had the last...

A report from Bloomberg. "Residential starts fell 9.4% to a 1.26 million annualized rate on weakness in the multifamily category after an upwardly revised 1.39 million pace in the prior month, according to government figures released Thursday that missed estimates in Bloomberg’s survey. Permits, a...

A report from the Miami Herald in Florida. "Multimillion-dollar home prices continue to make headlines. But in truth, Miami-Dade’s luxury home market is continuing to soften, said Ron Shuffield, CEO of Berkshire Hathaway HomeServices EWM Realty. The problem: So many luxury homes on the market. The...

A report from the Wall Street Journal. "In 2019, about 19% of U.S. households with six-figure incomes rented their homes, up from about 12% in 2006, according to a Wall Street Journal analysis of Census Bureau data that adjusted the incomes for inflation. Jacob Neuberger, a 30-year-old who works in...

A report from News.com.au in Australia. "Deloitte Access Economics’ latest Business Outlook noted average dwelling prices in Sydney had risen by about $3000 per week in September. Melbourne experienced a bounce of about $2500 a week. Deloitte noted that 'Australia needs a renewed housing price...

A report from Bisnow on Massachusetts. "Recession alarm bells are ringing in one Boston real estate sector, but the backbone of the city’s economy is still pushing forward with more development. The higher education-backed development boom may be coming late in the cycle, but Suffock University...

A report from Reuters. "Citibank has agreed to pay a $30 million fine to settle charges of repeated violations of real estate holding rules and for failing to meet its commitment to take corrective actions, the U.S. Office of the Comptroller of the Currency (OCC) said on Friday. Federal law limits...

A report from the Milwaukee Biz Times in Wisconsin. "Barrett Lo Visionary Development, the real estate development firm that has been working for years to build a 44-story luxury apartment building at a site near the lakefront in downtown Milwaukee, on Friday paid its delinquent property tax bill...

It's Friday desk clearing time for this blogger. "In September, prices in the housing sector fell 1.6% — the largest single-month drop for the sector since Zions Bank began measuring consumer prices along the Wasatch Front in 2010. Prices for hotels and motels also had their largest month-to-month...

A report from The Real Deal on Florida. "For the first owners of a two-bedroom luxury condo on the 36th floor of Rise, one of two new luxury towers at Brickell City Centre, buying at a preconstruction price turned out to be a losing proposition. On May 10, a shell corporation owned by Venezuelans...

A report from the Wall Street Journal. "A Federal Reserve Bank president who has been warning about prices rising too high in the commercial real-estate market has a new source of concern: co-working. In an interview, Boston Fed President Eric Rosengren highlighted a potential misalignment in the...

A report from CBC News in Canada. "According to the latest statistics from Canada Mortgage and Housing Corporation, the average monthly rent for a two-bedroom apartment in Regina was $1,130 in October 2018, compared to $1,116 in October 2017. This is mainly due to an abundance of newly constructed...

A report from Crain's New York Business. "While foreclosure activity decreased in three out of five boroughs during the third quarter of 2019, Staten Island saw a surge of 183% year-over-year, according to PropertyShark. Foreclosure cases in Staten Island went from 48 in Q3 2018, to 136 in Q3 2019....

A report from the California Globe. "While driving down a few streets in the suburban Orange County city of Fullerton, an unusual by-product of the housing crisis presented itself. Rows and rows of large houses known as ‘McMansions’ built within the past 20 years lined the streets, many with ‘For...

A report from the Globe and Mail in Canada. "During two years of soggy sales after prices in the Toronto market peaked in 2017, many people sat on the sidelines, says real estate agent Ira Jelinek, as they tried to figure out whether prices had farther to fall. Mr. Jelinek cautions that sellers...

A report from Wicked Local Brewster in Massachusetts. "Laura Clements, owner/broker of Cove Road Real Estate in Orleans, said high end shoppers have more to choose from at the moment. Clements noted the list price isn’t the sale price. 'A lot of the time homeowners want to try out a higher price...

A weekend topic starting with the West Side Rag. "A Q&A With Upper West Sider Paul Krugman: WSR: When and why did you come to live on the Upper West Side? PK: Growing up on Long Island, I always had it in my mind that I’d someday be a New York City intellectual. Somehow or other that got...

A report from the Daily Voice. "The bottom line of Houlihan Lawrence’s luxury housing report on sales in Westchester and Fairfield is that it’s all about the effects pricing has been having on the bottom lines of buyers and sellers. 'Nearly all closed properties in this price range were reduced...

A report from Westword on Colorado. "Apartment supply throughout Denver has gone up of late. In 2017, by CoStar Group David Pierce's estimate, 'there were just under 20,000 units under way, which ' was the most at any point in recent history.' However, 'the amount has steadily trended downward, and...

It's Friday desk clearing time for this blogger. "An American developer is looking to attract the international buyers who would have previously looked to Vancouver. The Spire was originally going to be a rental tower, which has been the trend for years in Seattle. But the developer switched to...