The Housing Bubble Blog

A weekend topic starting with the Globe and Mail in Canada. "In the leafy Vancouver west side neighbourhood of Kerrisdale, there is a lot at W. 35th Avenue that has sat overgrown and empty for several years. A City application sign that shows a proposal for clustered white rental townhouses....

It's Friday desk clearing time for this blogger. "'The slow-down in the New York market can be attributed to the glut of high-end apartments in New York City, which have sat longer on the market as foreign investments in New York City have slowed down as well,' said Frank J. Rizzo, president of...

A report from the Wall Street Journal. "The Trump administration said it would support returning mortgage-finance giants Fannie Mae and Freddie Mac to private hands. 'Our view is that the government footprint has become too big,' Treasury Secretary Steven Mnuchin said in an interview ahead of...

A report from Go Local Prov in Rhode Island. "For nearly three years, the proposed 46-story Fane Tower has been meandering its way through a complex web of Rhode Island’s overlapping regulatory structures. Across the United States -- and including in Providence, Rhode Island -- there are...

A report from The M Report. "The U.S. Census Bureau’s New Residential Construction Survey found that while building permits grew in July by 8.4%, housing starts fell 4% in July to 1.91 million. Odeta Kushi, Chief Economist for First American Financial Corporation, added that homebuilders are...

A report from CTV Vancouver in Canada. "When detached homes in Metro Vancouver began dropping in price several years ago, condos seemed immune to the changing market – but not anymore. New data from Royal LePage shows Metro Vancouver condominiums have sold for an average of $764 per square foot...

A report from the Wall Street Journal. "A strong appetite among foreign investors for office buildings, apartments, malls and other real estate has in part fueled the long-running bull market in U.S. commercial property. Now, amid a maturing property market cycle and rising uncertainties in...

A holiday topic starting with KJZZ in Arizona. "Phoenix is now the top city in the country for increases in annual home prices, replacing Las Vegas. That’s according to the S&P CoreLogic Case-Shiller Inde. Co-creator Robert J. Shiller talked about the slow rate of home price...

A report from the Coeur d'Alene Press in Idaho. "'In every year since 2013, home prices in Kootenai County have grown significantly faster than wages,' said Samuel Wolkenhauer, Region 1 economist for the Idaho Department of Labor. 'It’s important to remember that these growth rates compound on each...

A report from Global News in Canada. "Greater Vancouver’s housing market correction is finally having a noticeable impact on condo prices. The median Greater Vancouver condo is priced at about $764 per square foot, down 8.3 per cent year-over-year, the report found. In the City of Vancouver, the...

A report from the New York Times. "Prices for ultraluxury condos in New York have been declining since peaking in 2016, according to StreetEasy. The site found a mismatch between decisions by developers to keep building bigger, better condos and the number of people willing to buy them, causing a...

It's Friday desk clearing time for this blogger. "With a real estate market with a glut of inventory, it takes more than an open house with cookies or cocktails to sell a property. To market a unit at mega-tower 432 Park Avenue, REAL New York developed a marketing concept around the view of Central...

A report from Summit Daily in Colorado. "Summer and early fall are often the busiest times for real estate in Summit County. But with national news predicting an economic recession paired with a downturn in Denver’s real estate market, Summit County buyers seem to have backed off. July’s number of...

A report from the Globe and Mail in Canada. "97 Stuart Ave., Toronto: This custom-built, four-bedroom residence was unsuccessfully listed around $3.5-million early 2018. So, the sellers hired different agents who pushed for a $3.149-million starting price last summer and slashed it by roughly...

A report from 27 East in New York. "A court has ordered the sale of Ponquogue Point, the bankrupt condominium project on Foster Avenue in Hampton Bays that stalled when it was near completion. Construction began in 2014. The launch was announced again in 2015, when the sales center and model homes...

A report from the Seattle Times in Washington. "Home prices in Seattle and the surrounding counties took a dip of 1.3% in June compared to last year, according to the latest datafrom the S&P CoreLogic Case-Shiller home price index. The downturn reported by Case-Shiller, which tracks a...

A report from the Bradenton Herald in Florida. "The median sales price for existing single-family homes in Manatee County hit $325,000 in July, the highest median price since the housing crisis and Great Recession more than a decade ago — and near a historic all-time high. The median sales price...

A report from Fortune. "The top 1% is pumping the brakes. Weak auction sales at this year’s Monterey Car Week is just the latest example of how spending at the top of the economic pyramid is shrinking, as many of the highest-priced cars went unsold. From high-end New York real estate, to fine art,...

A report from the Wall Street Journal. "The next time you buy a house, your lender might deploy a drone and a computer algorithm to size up the property instead of a tape-measure-toting human appraiser. Federal regulators are moving to allow a majority of U.S. homes to be bought and sold without...

A report from the Press Democrat in California. "Last summer with the rental market still reeling from the 2017 North Bay wildfires, the three-bedroom home in the southeast Santa Rosa Kawana Springs neighborhood easily would have fetched the owner’s asking price of $3,600 a month. Today, the owner...