The Housing Bubble Blog

A report from WHSV in Virginia. "As we enter into the last three months of the year, what had hopeful signs of declines in interest rates is no longer the case throughout this year. 'We had heard from a lot of the national economists and lenders that you know the rates were going to come down and...

A report from the Philadelphia Inquirer in Pennsylvania. "The $253 million, 47-story tower at Broad and Spruce Streets, was meant to be a triumph for developer Dranoff Properties and Philadelphia’s Avenue of the Arts. Arthaus began marketing units in 2020, and the tower formally opened last year....

A report from the Real Deal. "For just under $22 million, a pocket-minded buyer in New York can get a free beach club membership, a boat and a Tesla. They’ll just need to buy a $2.8 million Red Hook townhouse for the car, a $12 million waterfront home in Water Mill that comes with a boat, and a...

A report from the Naples Daily News in Florida. "Year-to-date, single-family home sales are down 15% over the year in Lee County, the county hardest hit by Ian. In the city of Cape Coral, they're off by 20%, said Denny Grimes, a long-time Realtor. As of August, prices were down 7% in the Cape from...

A weekend topic starting with the Los Angeles Times. "The high cost of housing is driving Southern California’s biggest challenges. Income is not keeping pace with housing costs. It hasn’t for at least two generations. There’s a metric called 'housing burden' that lays the situation bare. Over the...

It's Friday desk clearing time for this blogger. "'Buyers are using things like inspection negotiations and high insurance premiums to back out of deals,' said Jacksonville Redfin Premier agent Heather Kruayai. 'They’re holding a lot of the cards; today’s sellers need to concede on some details to...

A report from the East Valley Tribune in Arizona. "Butch Leiber, president of Phoenix REALTORS' board of directors, said inventory in Chandler this summer climbed by 500 homes from July to August. Listings Valley-wide were around 7,100 last month, the Cromford Report said. That was higher than late...

A report from Yahoo Finance. "The last bastion of the housing market faltered last month. Sales of newly built homes decreased 8.7% to a seasonally adjusted rate of 675,000 units last month from the revised July rate of 739,000, according to the Census Bureau. The decrease in activity reverses much...

A report from the Orange County Register. "Surviving the slowdown was a key theme at the California Association of Realtors conference last week in Anaheim. Helen Jeong’s most prosperous year as a real estate agent occurred in 2020, when five sales generated the most cash she had seen in her 17...

A report from the Jamaica Plain Gazette in Massachusetts. "'Inventory is down across the Board,' said BJ Ray of the Boston Home Team of Unlimited Southeby’s International Realty. 'Specifically in JP, single-family listings and sales are down about 20% from last year. The condo inventory drop has...

A weekend topic starting with KTVZ. "Gov. Tina Kotek has pulled $2.7 million of the $18.2 million in emergency homeless response funds directed to Multnomah County and redistributed them to six other counties, including three in Central Oregon, due to the slow rollout by the state’s most populous...

A weekend topic starting with Business Insider. "Investor Bill Gross warned of more pain for bond investors as US fixed-income assets head for an unprecedented three-year slump. 'The government first threw money out of a helicopter and almost all of it has been spent, sending inflation beyond all...

It's Friday desk clearing time for this blogger. "'Perhaps there could be some recovery taking place, but the last couple of data releases are implying no,' said Lawrence Yun, the NAR’s chief economist. 'Things are slumping down again.'" "The 10-year Treasury yield surged to 4.46% in morning...

A report from KSNV in Nevada. "Housing analysts are starting to see a foreclosure uptick once again, and unfortunately, Las Vegas is at the tip of that financial spear. Veteran real estate broker Kristen Riffle says she's seeing it. 'People aren't making their mortgage payments due to numerous...

A report from Yahoo Finance. "Homebuilders are walking a fine line when it comes to new projects as high mortgage rates curb demand. New residential construction, including single-family homes and multifamily, dropped 11.3% month over month in August to 1.283 million units on a seasonally adjusted...

A report from the Motley Fool. "When my friend Jane (not her real name) and her husband set out to buy a home five years ago, they weren't dealing with the same challenging housing market conditions buyers are grappling with now. Initially, Jane made a point to call her decision a smart one. But...

A report from the Pueblo Chieftain in Colorado. "Pueblo's real estate market remained stagnant in August with overall sold listings down 18% when compared to August 2022. Year-to-date residential home sales are down 25.5%. The length of time a home for sale is staying on the market is closing in on...

A report from Newsweek. "New Jersey and Illinois are facing a stressed housing market, according to a new report. ATTOM revealed that nearly half of the counties most at risk are in those two states. New Jersey exhibited the highest rates of foreclosures among the top 50 counties facing the...

A weekend topic starting with Oregon Public Radio. "Just before Portland’s City Council approved a ban on public drug use last week, Mayor Ted Wheeler described what he’d observed on his way to work that afternoon: 'The last time I saw somebody consuming what I believe to be fentanyl publicly on...

It's Friday desk clearing time for this blogger. "'The sharpest price decline in Utah’s real estate history occurred from May 2022 to January 2023,' wrote the report’s authors, housing researchers Jim Wood and Dejan Eskic. In those eight months, the statewide median sales price of an existing home...