The Housing Bubble Blog

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It's Friday desk clearing time for this blogger. "A blazing-hot housing market has chilled in Northeast Colorado. 'We’re getting more creative,' said Wendy Jerman, Realtor at Town Square Realty in Sterling.. 'More agents are sending out email blasts about reduced pricing – the new term is price...

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A report from the Wood County Monitor in Texas. "A zoning change requested by developer Peter Woolford for Park Central Subdivision in south Mineola gained approval from the Mineola City Council. Woolford said that the original plan is no longer feasible, and if the changes are not granted, the...

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A report from Realtor.com. "The red-hot housing market has been brought to its knees by soaring mortgage interest rates. 'No one wants to catch a falling knife,' says economist Yelena Maleyev of KPMG US. 'No one wants to buy in a market when prices are falling. You want to wait it out.'" From CNBC....

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A report from the Sun Sentinel. "Businesses tied to the real estate industry say they’ve started to feel the effects of the housing market slowing down in South Florida. 'It’s a ghost town,' says Bruce Gubnitsky, the owner of BG Appraising and Consulting, of the 'steady decline' in business. 'This...

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A report from Fortune. "That Pandemic Housing Boom coincided with a staggering 42% jump in U.S. home prices between March 2020 and June 2022. Of course, that demand boom hasn't just fizzled out—it's doing a 180: On a year-over-year basis, mortgage purchase applications are down 41%. There's...

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A weekend topic starting with Business Insider. "'This is a welcomed refresher to catch up on things and regroup, but there is a fearful tinge to the air as the market is shifting,' realtor Abbey Pontius said to the Colorado Association of Realtors. The spike in inventory has caused home prices in...

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A weekend topic starting with The Street. "Martin Pring does an excellent job in his 1993 book Investment Psychology Explained outlining the 12 steps of how a mania or bubble inflates. 1. A believable concept offers a revolutionary and unlimited path to growth and riches. 2. A surplus of funds...

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It's Friday desk clearing time for this blogger. "In Orlando, 29% of homes on the market reduced their prices in October, up from 16% the same time a year ago. Real estate agent Kimberly Ann Zeidner says Zeidner says she’s trying to talk her investor homeowner into knocking $20,000 off its price,...

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A report from Geek Wire. "'We’ve tied up hundreds of millions of dollars in houses that you yourself wouldn’t want to own right now,' Redfin CEO Glenn Kelman wrote. 'Even before its overhead expenses, the RedfinNow properties segment will likely lose $22 – $26 million dollars in 2022.' Kelman said...

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A report from DS News. "'Homebuilders started scores of projects during the pandemic moving frenzy and are now stuck with a bunch of new houses that are hard to sell because mortgage rates have risen to 7%,' said Faith Floyd, a Redfin real estate agent in Houston. 'Builders are giving away...