The Housing Bubble Blog

A report from Fox 13 in Utah. "Matthew Clewett bought his first home in Kaysville back in 2021. Since May, the board says those prices have dropped 22 percent. 'It was an offer that I actually had to pay above asking price for. It was at pretty much at the top end of my budget,' said Clewett. 'I...

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A report from the Daily News Record. "Next week, ownership of the nearly 81-acre and still largely vacant site of the planned Summit Crossing subdivision on the north end of town could change hands during a foreclosure sale at a public auction. At 11 a.m. Thursday, the property will be offered for...

https://www.youtube.com/watch?v=yXE1IYNfRyc https://www.youtube.com/watch?v=AD2PnEWq4GI

A report from Axios on Virginia. "Richmond home prices seem to be leveling off some after soaring for two years, per Redfin. The city of Richmond saw the biggest year-over-year drop in median sales price for single family homes in January, falling 11% to $280,000, while also seeing some of the...

A report from the Tribune in California. "If 2022 was a roller coaster for San Luis Obispo County's housing market, 2023 appears to have pumped the brakes somewhat. The median home price has cooled off to $790,000, a notable drop from last year's price of $925,000, Redfin data showed." The Sun...

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A weekend topic starting with Real Clear Markets. "Arthur Burns, Chair of the Federal Reserve from 1970 to 1978, publicly regretted afterward that he had lacked the spine to do what was necessary to get the Great Inflation of the 1970s under control. When his predecessor William McChesney Martin’s...

https://www.youtube.com/watch?v=56IwOxPubGE https://www.youtube.com/watch?v=2jEYldJsd2U https://www.youtube.com/watch?v=iiizfcYeheE

It's Friday desk clearing time for this blogger. "The Greater Boston Association of Realtors released a report indicating that the number of active listings was up across the board in the region last month. 'Buyers were hard to find over the final quarter of the year as stubbornly high inflation...

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A report from Mansion Global. "What goes up, must come down. That’s apparently the motto of the current U.S. housing market, which, after a wildly prosperous peak-pandemic run, is now seeing values plummet. Homeowners across the country have collectively lost $2.3 trillion in home value since the...

https://www.youtube.com/watch?v=W2drrltBgIw https://www.youtube.com/watch?v=X0WUF6fn53o https://www.youtube.com/watch?v=fm0kx25-M-8

A report from the New York Post. "The nation’s housing slump dragged on into January as home sales fell for the 12th consecutive month to the slowest pace in more than a dozen years. The median home price is down around 13% since it peaked in June last year. 'Inventory remains low, but buyers are...

https://www.youtube.com/watch?v=Cb6phH1HW7M https://www.youtube.com/watch?v=WDcJBP_zt74 https://www.youtube.com/watch?v=DJVij8rrhaU https://www.youtube.com/watch?v=lNSAQ2gtsTw

A report from DS News. "A case study of two nationwide cohorts of properties brought to foreclosure in Q4 2022 reveals that proactive pricing is key to optimal distress disposition during a housing slowdown, according to Auction.com. 'With home prices now down more than 9% from their May 2022 peak...

https://www.youtube.com/watch?v=RoRgfixJsJ8 https://www.youtube.com/watch?v=t9jx9EepSDY https://www.youtube.com/watch?v=bJ-w7W0VRbE https://www.youtube.com/watch?v=QOkcrnAi7Lk https://www.youtube.com/watch?v=JFRmH9BhpWI

A report from Realtor.com. "The real estate game is at a stalemate that shows no signs of budging anytime soon, with neither buyers nor sellers willing to make the first move. Buyers have little incentive to lead the way. Meanwhile, home sellers—who, a mere year earlier, enjoyed packed open houses...

https://www.youtube.com/watch?v=230ZBW2zFZo https://www.youtube.com/watch?v=JZ1OElt5dCc https://www.youtube.com/watch?v=k7cQIpP0RDc

A report from the Marin Independent Journal. "Beth Brody, a Compass agent in Mill Valley, is bullish about 2023 after a year in which the median home price in Marin plunged about 30%. The apex was $2.12 million in April. The median price for a detached home in Marin was $1.6 million last month, the...