The Housing Bubble Blog

It's Friday desk clearing time for this blogger. "Year-over-year median sale prices for existing homes fell 5.9% in Santa Clara County, 3.2% in Alameda County and 1.5% in San Francisco in May, according to CoreLogic. 'After several years — six, seven, eight, years of consistent, in some cases...

A report from Domain News in Australia. "Perth house prices have continued to tumble, falling 2 per cent to $528,200 in the June quarter, new figures show. The city’s median house price is now 14 per cent below its 2014 peak, according to the latest Domain House Price Report . Perth unit prices are...

A report from Boston Agent Magazine in Massachusetts. "The number of single-family homes sold in the Greater Boston area in June fell compared to the same month last year. Homes are also sitting on the market longer and price cuts are becoming more common. 'Homeowners must be careful to price their...

A report from the Orlando Sentinel in Florida. "More Central Floridians are taking out zero-down loans to buy a home. 'We didn’t have to put $30,000 down on a house, but you still get the house you want,' said Christina Martinez, whose family bought a home in Kissimmee a few months ago with a...

A report from the Wall Street Journal. "U.S. home sales slumped in June as home prices for major West Coast cities declined for the first time since 2012, ending the spring selling season with a thud. 'Prices have dropped in Silicon Valley and sellers just aren’t used to the concept that [prices]...

A report from WLTV in Tennessee. "We went to a mortgage expert to break down some information. Michael Borella, the sales manager at Movement Mortgage, said if you're looking to buy a new home, now is a good time to do so. There are options out there whether you have 20 percent to put down or zero....

A report from the Times of London in the UK. "Alex Johnston has reluctantly cut the price of his townhouse in Maida Vale, west London, after three years with no offers. The app developer and his wife put the five-bedroom home on the market for £3.25m in 2016, but have cut the price to £2.749m and...

A press release from Redfin. "Only six of the 85 largest metro areas Redfin tracks saw a year-over-year decline in their median sale price, the biggest of which was once again in San Jose, where home prices were down 4.9 percent from a year earlier. Oxnard, CA (-4.8%), Oakland, CA (-2.0%), Seattle,...

A weekend topic starting with Good Returns in New Zealand. "As the property landscape changes, yields are, once again, starting to move to centre stage for investors. Yet Kiwibank’s latest property market report reveals that the once stellar yields available in many regional markets are now on the...

A report from the Sydney Morning Herald in Australia. "An Erskineville apartment development remains a ghost town more than 12 months after it was completed, with the City of Sydney refusing to allow owners to move in over fears the developer did not properly clean up toxic land underneath it."...

A report from The Real Deal. "Bank OZK, one of the country’s most aggressive condo construction lenders, signaled in its most recent earnings report that its real estate lending growth is slowing down. 'Lenders in certain markets are very aggressive on price,' Bank OZK CEO George Gleason told...

It's Friday desk clearing time for this blogger. "Consider a few of these recent headlines from major newspapers around the state: 'Bay Area home prices fall 1.7% in May, biggest year-on-year drop in 7-plus years,' said the San Francisco Chronicle on June 27, 2019; 'Sluggish sales suggest peak has...

A report from the Irish Independent. "A glut of new houses for sale has led to builders cutting back on the construction of homes. Goodbody economist Dermot O’Leary said there is now a rising inventory of unsold stock forming for house builders. The report shows that there has also been a big...

A report from Realtor.com. "The postcrash price growth might actually be higher than most thought. Home prices shot up a cumulative 50% over the past decade, from June 2009 through May 2019, according to CoreLogic. Wages also rose over the past decade, but not nearly that much." "'We have years of...

Three reports from the Times of London in the UK. "House prices in London fell by 4.4 per cent in the year to May — their sharpest fall since August 2009, according to the Office for National Statistics. It was the 11th successive month that the ONS year-on-year comparison showed a decline."...

A report from the Wall Street Journal. "Foreign purchases of U.S. homes have dropped by half over the last two years, a fresh blow to the top end of the market in New York City, Miami and cities in California. Their pullback is leading to price cuts in several coastal cities and causing new condos...

A report from CNBC. "The dollar volume of homes purchased by foreign buyers from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors. 'The magnitude of the decline is quite striking, implying less confidence in owning a property in the...

A report from Westword in Colorado. "The real estate scene in Denver hasn't fully transitioned into a buyer's market. But it's shifting in that direction, as indicated by how many more concessions metro-area sellers are willing to grant now as compared to the recent past. That's the theory espoused...

A report from the Wall Street Journal on New York. "High-rise developers in Manhattan are coming under stress as tough market conditions are starting to undermine some of the city’s most prominent luxury condo projects. At a mixed-use project that includes luxury condos in Midtown Manhattan,...

A report from the Daily Mail Australia. "A luxury three-bedroom apartment in the second tallest residential tower ever constructed in the southern hemisphere is now on the market for $10 million amid a climate of rising defaults. The two-level unit has floor to ceiling windows stretching up over...