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The Housing Bubble Blog



Examining the home price boom and its effect on owners, lenders, regulators, real estate agents and the economy as a whole.



Published: Sun, 26 Mar 2017 18:39:04 +0000

 



A Glittering Monument To Oversupply

Sun, 26 Mar 2017 18:28:50 +0000

A report from the Journal Sentinel in Wisconsin. “On a recent Friday, Shorewest Realtor Beth Jaworski listed a three-bedroom, 1½-bathroom Dutch colonial house with a single-car garage in a popular Wauwatosa neighborhood for $289,900. By Sunday night that same weekend, the house had five offers from buyers. It sold for $315,000. ‘I’ve never seen it [...]



Less Than Clueless Of The Risks

Sat, 25 Mar 2017 18:16:01 +0000

A weekend topic starting with Imbibe.com. “Ever had a feeling that perhaps you missed the peak time to sell something? That by holding out for a better offer or chancing your arm a bit you ended up costing yourself money? Well if so, you can only imagine how the team at Ed’s Easy Diner feel. [...]



Not All Houses Are Sold Immediately Regardless Of Price

Fri, 24 Mar 2017 17:06:41 +0000

It’s Friday desk clearing time for this blogger. “Mortgage giant Freddie Mac today announced a new program that will allow lenders to give mortgages to buyers without credit scores. While the program may remind some observers of housing bubble loans, Freddie Mac says the program is a ‘responsible’ way to enable unconventional buyers to purchase [...]



The Roll Developers Have Been On Is Starting To Change

Thu, 23 Mar 2017 21:31:21 +0000

A report from Business Den in Colorado. “A 400-unit apartment complex in the Ballpark neighborhood sold this week for $126 million. Greenwood Village-based Griffis Residential bought Skye 2905 just north of Coors Field on Monday, city records show. Monogram Residential Trust, a Texas firm, was the seller. Jim DiRienzo, Griffis Residential’s VP of investment, said [...]



The Markets That Have Recovered Too Much

Wed, 22 Mar 2017 22:46:38 +0000

A report from the Denver Post in Colorado. “There were 25 percent more starter homes available in metro Denver at the start of 2017 than at the start of 2016, and about a fifth more trade-up homes, according to Trulia. Something may be changing in the market. The starter-home inventory has seen annual increases for [...]



Normalization Follows Years Of Red-Hot And Record-Breaking

Tue, 21 Mar 2017 21:22:50 +0000

A report from the American Statesman in Texas. “Home sales in Pflugerville in January and February are less than half of what were sold in the same period last year. But Brandy Guthrie, president of the Austin Board of Realtors, said that dip does not indicate a weak market. Instead, she said, it is more [...]



The Housing Market Is Bubbly

Mon, 20 Mar 2017 22:16:51 +0000

A report from The Age in Australia. “A senior Chinese policeman has been jailed for 17 years for embezzling money to buy two Australian homes for his two daughters. The Australian real estate purchases were among a huge property portfolio, with no obvious legitimate source of funding, Chinese prosecutors said. Wang Jun Ren, 59, was [...]



Too Many Expensive Houses That Just Aren’t Selling

Sun, 19 Mar 2017 17:15:58 +0000

A report from the Commercial Appeal in Tennessee. “Among cities where at least 250 homes were flipped last year, Memphis ranks No. 1 for the portion — 11.7 percent — of all metro area home sales that involved a flip. Thomas Byrd generally sees house flipping as bad for Memphis. Flips and out-of-town investors inflate [...]



The Way Government Entities Think About Affordability

Sat, 18 Mar 2017 16:00:51 +0000

A weekend topic starting with a CNN opinion piece by William Poole. “Today, the Fed is again ignoring the GSEs and their potential contribution to future instability. According to Freddie’s 2016 annual report, ‘Expanding access to affordable mortgage credit will continue to be a top priority in 2017.’ Fannie/Freddie have redefined ’subprime’ to a credit [...]



There’s A Reason That Fantasy Isn’t Reality

Fri, 17 Mar 2017 16:42:50 +0000

It’s Friday desk clearing time for this blogger. “The Trump administration’s budget plan for 2018 includes cuts to federal agencies that are so large, some economists say it would drive down federal employment and make a noticeable dent in housing prices in Washington, DC, Virginia and Maryland. But President Trump’s budget director, Mick Mulvaney, told [...]



The Onetime Kings Of Impossible Prices

Thu, 16 Mar 2017 21:43:17 +0000

A report from Bloomberg. “Apartment rents in cities such as New York and San Francisco will need to fall as much as 15 percent for a glut of high-end developments to be absorbed, according to billionaire real estate investor Richard LeFrak. New York landlords are already feeling the pinch as renters take advantage of a [...]



It Doesn’t Feel As Much Of A Gold Rush As It Did

Thu, 16 Mar 2017 00:30:41 +0000

A report from the Folsom Insider in California. “For probably the last 2 years, home buyers and their agents have been lamenting the fact that available housing inventory is low. It still is low, with 81 homes for sale in Folsom today, compared with 105 a year ago. The problem now is that the inventory [...]