The Housing Bubble Blog

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A report from Yahoo Finance. "The stock of troubled San Francisco lender First Republic wobbled Monday after it announced it would stop paying dividends on its preferred stock and an analyst said the bank wouldn't be able to find a buyer willing to take on its problems voluntarily. Wedbush...

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A report from the Orange County Register. "Home values have declined from pandemic-era peaks in more than half the states and metropolitan areas, according to some new price data. The sharpest declines in metros were largely in California, Idaho and Nevada markets. The 10 largest dips from 2022...

A report from the Telegraph. "Brad Pitt is one of a number of wealthy Californians offloading property in LA in an apparent effort to save millions of dollars in tax. The rush of properties coming to market, and the tax, has depressed values and forced sellers to slash prices to get deals done....

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A weekend topic starting with the Telegraph. "Shadow banking is the dog that has not barked during the latest global spasm of financial stress. They behave like banks but cannot tap the emergency window of major central banks in a liquidity crisis. There is no lender of last resort standing behind...

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It's Friday desk clearing time for this blogger. "Seattle-area home prices dropped again in March. The median single-family home in King County sold for $840,000 in March, down about 10% from a year earlier, according to the Northwest Multiple Listing Service. Prices dropped sharply on the...

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A report from Salt Lake City Weekly. "As Utah's real estate market sizzled during the COVID pandemic, Matthew Borsodi, a compliance officer at one of Utah's largest mortgage lenders, filed a federal complaint alleging that his former employer skirted rules aimed at protecting consumers. Borsodi...

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A report from Mansion Global on Florida. "Lupe del Pino recently paid $258,000 for a two-bedroom condo unit with a balcony in North Miami Beach. That amount was within her allotted budget, but she had an additional cost to pay. Her building is in the process of complying with new state requirements...

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A report from CNBC on New York. "Manhattan real estate sales fell 38% in the first quarter, according to new reports. The big question for brokers, buyers and sellers is where the new 'bottom' will be in Manhattan. The average sales price fell 5% to $1.95 million and the median sales price fell 10%...

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A report from Houston Agent Magazine in Texas. "Y’all, I hate to lick all the red off your candy, but the days of a super-hot real estate market are behind us (at least for now). While on the surface, that sounds like a bad thing, I have news that will make your day. A recession is your time to...

A report from the Orange County Register. "California's latest homebuying debacle is a pumped-up storyline we've seen before — even if each housing bubble has its own shape and size. The median price of an existing, single-family home in California in February 2023 was $735,000, 18% off May 2022's...

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A weekend topic starting with Global Finance. "Avaya Holdings Corp, Tuesday Morning, Sorrento Therapeutics—what’s the common thread between these very different companies? Within a few days, the three of them went bankrupt. 'We have had almost unlimited credit for 10 years,' reinforces Jim Baer,...