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- Speculators Ran Out Of Money And Time
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A report from the Arizona Republic. “Complaints to the county about algae-laden “green pools” behind vacant or abandoned homes have leaped almost 250 percent since a year ago, increasing to 2,069 during the first five months of 2008 compared with 597 during the same period in 2007, said Johnny Dilone, spokesman for Maricopa County Environmental Services.”
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Original Source: thehousingbubbleblog.com
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29 May, 2008| housingblogs |
Comments (0) @ 23:19
- No title needed
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From the Economist:
Through the floor
America’s house prices are falling even faster than during the Great Depression…
Original Source: njrereport.com
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29 May, 2008| housingblogs |
Comments (0) @ 22:26
- Fed Letter: Crude Awakening: Behind the Surge in Oil Prices
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Here is an economic letter from Stephen P. A. Brown, Raghav Virmani and Richard Alm at the Dallas Fed: Crude Awakening: Behind the Surge in Oil Prices A good starting point is strong demand, which has pushed world oil markets close to capacity. New supplies haven’t kept up with this demand, fueling expectations that oil markets will remain tight for the foreseeable future. A weakening dollar has put upward pressure on the price of a commodity that trades in the U.S. currency. And because a large share of oil production takes place in politically unstable regions, fears of supply disruptions loom over markets….
Original Source: feeds.feedburner.com/CalculatedRisk
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29 May, 2008| housingblogs |
Comments (0) @ 22:24
- Reader Survey
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In an effort to attract better advertising, we’ve been asked to survey our readers. If you’d like to participate - thank you - it’s short, anonymous, and hopefully painless.Reader SurveyThanks to all,CR and Tanta
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Original Source
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29 May, 2008| housingblogs |
Comments (0) @ 21:28
- The Economist: Chart on Historical Changes in House Prices
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From the Economist.com: House Prices: Through the Floor (hat tip Ryan)Earlier this week, the S&P Case-Shiller National Home Price index was released showing a 14.1% decline over the last four quarters. The Economist has a chart (from Professor Shiller) putting this decline into historical perspective by showing the YoY change in U.S. house prices since 1920. The Economist notes: N…
Original Source: feeds.feedburner.com/CalculatedRisk
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29 May, 2008| housingblogs |
Comments (0) @ 21:07
- [In The Media] Lawline Clip for 5-22-08
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Back in March, I was invited back to do another appearance on Lawline TV. I had the pleasure of appearing with Jacky Teplitsky of P…
Original Source: matrix.millersamuel.com
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29 May, 2008| housingblogs |
Comments (0) @ 20:47
- A Downtrodden Apartment
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Little House — The Fray
The distress at the low end of the market doesn’t bode well for the high end. In a normal, healthy real estate market, small condos generally sell for the highest prices on a per-square-foot basis. When single-family detached homes where going for upwards of $400/SF, small condos were selling for $450/SF and up. Small properties cost more on a per-square-foot basis because the inexpensive square footage in bedrooms and living areas are much smaller, but the expensive square footage in kitchens and bathrooms are still present. Right now, in our market, the smaller condos are selling for much less on a per-square-foot basis than the larger, single-family detached homes. This situation will not persist. Either small condo prices will increase, or larger home prices will fall. I think it will be the latter.
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Original Source
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29 May, 2008| housingblogs |
Comments (0) @ 20:30
- It’s A Multiyear Kind Of Thing
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Some housing bubble news from Wall Street and Washington. Reuters, “House prices fell a record 2.5 percent in May, the Nationwide Building Society says. The monthly decline, the largest since the lender started compiling records in 1991, wiped 5,000 pounds off the value of the average home and took prices 4.4 percent lower than a year ago — the sharpest rate since the 1992 economic slump.”
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Original Source: thehousingbubbleblog.com
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29 May, 2008| housingblogs |
Comments (0) @ 19:40
- News Update, Town of Taos, #48 May 29, 2008
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1) Special Meeting, Taos Town Council
Location: Taos Fire Department
323 Camino de la Placita, Taos, New Mexico
9:00 a.m., Monday June 2, 2008AGENDA
1. CALL TO ORDER BY THE HONORABLE MAYOR BOBBY F. DURAN…
Original Source: feeds.feedburner.com/TaosRealEstate
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29 May, 2008| housingblogs |
Comments (0) @ 19:08
- Straight to auction: 17 model homes in Palmdale
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Another clump of new homes is going straight to auction on June 1. The auction house Kennedy Wilson is billing these 17 homes in Palmdale and Lancaster as "gorgeous, luxury model homes." W…
Original Source: latimesblogs.latimes.com
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29 May, 2008| housingblogs |
Comments (0) @ 18:52
- CIBC: $2.48 Billion in Write Downs
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From The Canadian Press: CIBC loses $1.11 billion in quarter on massive credit-market hit Canadian Imperial Bank of Commerce (TSX:CM) posted a net loss of $1.11 billion in the second quarter as it booked a massive hit tied to the credit market….The results in the second quarter of the bank’s financial year included a loss of $2.48 billion, or $1.67 billion after tax, on writedowns of structured credit, added to $3.46 billion in first-quarter writedowns…..
Original Source
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29 May, 2008| housingblogs |
Comments (0) @ 18:45
- Report: Rep. Richardson had eight defaults on three homes
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The latest on the Laura Richardson mess, from the enterprising Gene Maddaus at the Daily Breeze: "Rep. Laura Richardson, D-Long Beach, whose housing woes have been national news for the past week, …
Original Source: latimesblogs.latimes.com
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29 May, 2008| housingblogs |
Comments (0) @ 18:35
- Report: Richardson had eight defaults on three homes
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The latest on the Laura Richardson mess, from the enterprising Gene Maddaus at the Daily Breeze: "Rep. Laura Richardson, D-Long Beach, whose housing woes
have been national news for the past week, …
Original Source: latimesblogs.latimes.com
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29 May, 2008| housingblogs |
Comments (0) @ 18:35
- Amazon Open House at Vulcan
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Regarding last night’s Amazon-only Vulcan open house, a reader wrote:
I work for Amazon and just got back from Vulcan’s exclusive Amazonian-oriented event. They’re offering $5,000 incentives for those of us who want to work just a SLUT stop away from home. The excitement was not palpable, though the beer and wine were free….
Original Source: feeds.feedburner.com/SeattleBubble
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29 May, 2008| housingblogs |
Comments (0) @ 18:16
- [Trulia Snapshot] Visualizing Listing Shots Are, Well, A Snap
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Trulia launches yet another innovation today called Trulia Snapshot that further shows that they are the leaders in capturing and managing listing information for consumers. (disclosure: I am on their i…
Original Source: matrix.millersamuel.com
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29 May, 2008| housingblogs |
Comments (0) @ 18:00
- Condos downtown tanking….people shocked?
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Interesting article in the Sun today about developers of condos downtown are (sigh) having issues selling overpriced boxes of air.They try to blame the financing issues and buyers worried about the price going down. Well no freaking kidding, most of these places are Jefferson’s style deluxe apartments …
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29 May, 2008| housingblogs |
Comments (0) @ 17:49
- Mortgage Rates Soar: Are More Foreclosures Ahead?
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Posted By:Diana OlickThe culprit is fears of inflation, thanks to high gasoline prices. But even more troubling is the chance that the Fed will raise interest rates, which don’t correlate exactly to the 30-year fixed, but which will push up rates on some adjustable-rate mortgages and home equity lines of credit. …
Original Source: www.cnbc.com
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29 May, 2008| housingblogs |
Comments (0) @ 17:10
- Trump sells Atlantic City casino for $316 million
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Read full story for latest details.
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Original Source: money.cnn.com
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29 May, 2008| housingblogs |
Comments (0) @ 17:04
- Renting a foreclosed home
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We’re still alive! After a month and a half of waiting for things to turn around, we realized that just the opposite is happening. There’s even more doom-and-gloom to highlight than ever before!!!!
US auto sales are bad (again), oil is bouncing around but still near an all-time high, everyone’s arguing about whether we’re in a […]
Original Source: feeds.feedburner.com/DrinkingIsBelieving?i=CQg8RR” border=”0″>…
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29 May, 2008| housingblogs |
Comments (0) @ 16:35
- Mortgage rates rise, topping 6%
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Rates on 30-year mortgages were pushed up this week above 6 percent amid growing concerns about inflation, mortgage backer Freddie Mac said Thursday.
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Original Source: money.cnn.com
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29 May, 2008| housingblogs |
Comments (0) @ 16:20