The Housing Bubble Blog

A report from the World Property Journal. "Based on a new report from Redfin, a fast-growing share of U.S. home-sellers are dropping their prices. 'The slowdown over the last two weeks has felt significant,' said Seattle-area Redfin real estate agent Dee Heyerdahl. 'Usually April is when the spring...

A report from WBTV in North Carolina. "Potential Charlotte-area homebuyer Amelia Serrano is relocating from California with her family and the interest rates are on the top of her mind. 'Now we have to look for homes in a much lower price range than what we were initially pre-qualified for because...

A report from The Street. "'Housing affordability keeps hitting new lows in the US... first time buyers have been priced out of the market,' investment community Wall Street Silver posted on its Twitter account. 'Investors are not likely to stay around when they realize the music had stopped.'" The...

A report from International Business Times. "'Until recently, not many people thought that housing was in a bubble,' Tabitha Mazzara, Director of Operations at mortgage lender MBANC. But Dallas Fed researchers recently noted 'abnormal US housing market behavior,' 'reasons for concern,' and calling...

A weekend topic starting with Reuters. "Lampooned by fiscal hawks as belief in a 'magic money tree', ever higher public borrowing and spending had seemed manageable and sensible for many years - hinged as they were on persistently low inflation that allowed central banks largesse to square the debt...

It's Friday desk clearing time for this blogger. "Homeowners interested in selling are rushing to dump their domiciles before possible buyers run away. 'The thought of rising interest rates has lit a bit of fire to our timeline,' Meri Schroeder, a retiree in Frederick, Md., told The Journal. She...

A report from CBS Boston in Massachusetts. "Like the price of just about everything, the price to finance a home is going up. 'It has a lot to do with inflation,' said IND Mortgage founder Dick Lee. 'Inflation is the mortgage rates’ worst enemy.' The mortgage rate for a 30-year fixed home loan...

A press release from the used shack sellers. "As the final countdown begins to Realtor.com® Listapalooza, the company today released data that shows homeowners are gearing up to sell this Spring and Summer. According to the report, 64% of prospective 2022 sellers anticipate doing so within the next...

A report from Mortgage News Daily. "Black Knight's latest Mortgage Monitor report was released this morning. One of the two key pieces of additional data is the average mortgage payment associated with the average-priced home. After all, rates are lower now than they were at the last price peak in...

A report from the LA Business Journal in California. "Agents agree that a lot of the reason we are seeing more mansions sell at auction is that properties are simply listed too high and in some cases, sellers want to offload the properties quickly. Another major reason for some of the high-priced...

A weekend topic starting with Greenwich Time. "To much of the world, Greenwich is an enclave of the rich and powerful, the standard for Connecticut’s 'gold coast.' To satirists, it is a target for their humor. That was the case at Reductress, which posted ‘All Are Welcome Here,’ Says Sign in...

A weekend topic starting with Bankrate. "'Effectively, increased mortgage rates reduce conventional buyers’ buying power by 9% to 10% to 11%, pending their debt-to-income ratio,' said Baron Christopher Hanson of Echo Fine Properties. 'Pre-approved buyers for $500,000 to $1 million in mortgage...

It's Friday desk clearing time for this blogger. "Until recently, experts haven't widely supported the possibility of a housing bubble about to burst, especially in states like Utah. Dejan Eskic, at the University of Utah told the Deseret News on Thursday that Utahns shouldn't panic or jump to...

A report from the Missourian. "Realtors and lenders in Franklin County said demand for housing remains strong even with inflated costs. The price of houses have gone up dramatically in the last few years. Cory Davis with RE/MAX Gold in Washington said for several years a 10 percent annual increase...

A report from Bloomberg. "U.S. home prices shows signs of becoming 'unhinged from fundamentals' like they did in the housing bubble that preceded the 2008 crash, according to a blog post by the Dallas Federal Reserve bank. 'Our evidence points to abnormal U.S. housing market behavior for the first...

A report from Fox 5 New York. "It's news any seller would want to hear: offers on their home are pouring in, many above the asking price. 'The offers are coming in before the homes are even on the market,' Suzanne Colon at Douglas Elliman. said. 'We could put a 'coming soon' and offers are coming...

A report from the Australian Financial Review. "Dixon Advisory’s troubled US Masters Residential Property Fund, or URF, is set to be liquidated after its parent E&P Financial accepted an offer to sell 'substantially all' of its residential property assets in a $US507 million ($673 million)...

A report from the Herald Journal. "What used to be outrageous is now the norm in Utah’s housing market. Erika Wiggins, an agent who specializes in the Sugar House neighborhood in Salt Lake City, said one of her clients offered a $20,000 non-refundable deposit and up to $70,000 over what the bank...

A report from CBS News. "The average mortgage rate jumped to 4.42% for the week ended March 24, according to Freddie Mac. That's a more than a one percentage-point jump since January 2022. Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a research note: 'The writing is on the wall,...

It's Friday desk clearing time for this blogger. "A sudden rise in mortgage rates pushed the average 30-year rate to 4.42% this week. It’s a stunning jump that harks back to the sharp loss in borrowing power during the infamous rate spike of 1980. Now before you say, 'quarter-point, that’s not so...