The Housing Bubble Blog

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A report from KIRO in Washington. "Inventory is up, prices are down but buyers are backing out of the Seattle housing market. The Emerald City just scored the top spot on Redfin’s list of fast-cooling real estate markets in the United States. Tacoma also made the list, ranked at number 10. Local...

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A report from Market Watch. "Lumber prices have dropped by more than 60% so far this year, but don’t count on a recovery soon. 'Home builders have faced an enormous uptick in cancellations over the past several months due to the sharp rise in mortgage rates and the related softening demand for home...

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A report from Market Watch. "The tide has turned, and buyers are now backing out of deals in the Sun Belt. Once pandemic boomtowns, 15.2% of homes in cities in the Sun Belt that went under contract in August fell through, or roughly 64,000 homes nationwide saw deals dropped, Redfin said. And 'some...

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A report from the Spokesman Review in Washington. "Homebuyers in Spokane County may have an easier time finding a property in a real estate market is beginning to swing in their favor. Many area homes are undergoing price reductions. Some are remaining on the market longer. 'We’re seeing a housing...

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A report from NBC News. "'It’s gonna be tough, layoffs are a common occurrence right now. We’ve had a frenzy and it’s come to a screeching halt,' said Linda McCoy, who runs a mortgage business in Mobile, Alabama. 'It’s going to be tough for those people that got in the business in the last two...

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A weekend topic starting with Mises.org. "Paul Volcker (1927-2019) became Chairman of the Federal Reserve Board 43 years ago on August 6, 1979. The 20th-century Great Inflation, stoked by the Federal Reserve and the other central banks of the day, was in full gallop in the U.S and around the world....

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It's Friday desk clearing time for this blogger. "When Nancy Lam upgraded in January to a home closer to her child’s school in the San Francisco Bay Area, she thought she had plenty of time to list her old house. 'Six months ago, people were buying homes over-ask and with no appraisal,' said Ms....

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A report from the New York Post. "'Don’t panic,' said Jacob Channel, a senior economist at LendingTree. 'What you absolutely shouldn’t do in a period like this is panic and think the sky is falling. If you do that, you’re more likely to make risky decisions like panic-selling all of your stocks or...

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A report from ABC News. "Wesley and Kimberly Robinson, both elementary school teachers, started building a new home for themselves and their two daughters in Rogers, Arkansas, last year, when interest rates were close to 3%. But their mortgage rate ended up to 5% when they finally locked it in this...

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A report from the Review Journal. "Homebuilder confidence dropped again this month as buyers hit the brakes in Southern Nevada and around the country. In another sign of a 'weakening market,' 24 percent of builders reported cutting their home prices, up from 19 percent last month, said the...