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The Housing Bubble Blog
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Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.

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thehousingbubble@gmail.com
Arizona, United States
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59 Posts
Unable To Sell For Even Close To The Price In March When They Bought
A weekend topic starting with KPIX in California. “Though homes across the Bay Area continue to sell for record prices, some real estate experts say the market is beginning to level off. ‘I think we’re seeing a little bit of…
We’re Hearing People Can’t Qualify Now
A weekend topic starting with the Financial Post. “The key question is not why inflation has broken out: the monetary expansion since winter 2020 made that inevitable. The key question is why inflation didn’t take off after the monetary expansion…
The Economics For Investors Have Completely Blown Out
It’s Friday desk clearing time for this blogger. “Lotte Vonk knew that when her second child arrives in a few months, space in her suburban Chicago townhome would get tighter. They listed their home for $315,000 last week and have…
We Went From Everybody Freaking Out To Hey, Maybe I Should Walk Away From A Deposit
A report from Market Place. “‘Mortgage payments are going to be higher. They’re up more than 40% now from what they were last year for the median-priced home,’ said Daryl Fairweather, chief economist at Redfin.  Demand is starting to fall,…
A Wave Of Buyer’s Remorse Is Taking Shape
A report from Fox Business. “‘We are starting to see more and more potential buyers walk away and say they just can’t afford to pay these prices,’ National Association of Home Builders  Chairman Jerry Konter, a builder and developer from…
Nobody Saw A Lot Of This Stuff Coming
A report from Go Banking Rates. “‘For buyers, it will be a welcome relief because it has been hell over the last few years,’ said Bill Gassett, a realtor based in Hopkinton, Massachusetts. ‘For sellers, they will have missed out…
You’d Be Surprised What You Can Negotiate Down Right Now
A report from KCRA in California. “Buyers and sellers across the Sacramento region are bracing themselves as interest rates peak after years of relief. ‘The housing market has been completely bananas for the beginning of the year, unreal price growth…
The Reality Check Of Sugarcane Economics Starting To Hit Home
A weekend topic starting with the Los Angeles Times in California. “You’d be forgiven for passing this utterly unimpressive 1,800-square-foot house without a second look, but for decades it was everything to a large family headed by two immigrants who…
Most Get Into The Ponzi Scheme Knowing It Is A Bubble
A weekend topic starting with Go Local Prov. “In Rhode Island, GoLocal reported that in March that Santander Bank was expected to lay off nearly 200 employees. The layoffs by Santander are taking place across the globe. ‘What’s behind banking…
If You Need To Sell, Sell Now, Because The Market’s Going Down
It’s Friday desk clearing time for this blogger. “The average sale price of a single-family house in Mesa has increased 55% in two years and while home prices likely will continue to rise, mortgage rates and an apparent cooling in…
Everything That Has Been True In The Last Two Years Is Suddenly Not True
A report from Candy‘s Dirt in Texas. “‘We’re seeing the results of buyer exhaustion. These poor guys and gals are no longer willing to be one of 40 offers and pay so far beyond an already inflated asking price,’ said Travis…
Some People Are Feeling A Little Remorse For Buying When Things Were Super Crazy
A report from Bloomberg. “Zillow’s market cap approached $US50 billion, making CEO Rich Barton’s stake worth more than $US1 billion. In late August 2021, he boasted to investors that customers’ biggest complaint with Zillow Offers was it was too good…
If They’re Not Priced Right, You’re Going To Start Seeing Reductions, Reductions, Reductions
A report from Business Insider. “The top themes of the homebuilder survey were a slowdown in entry-level housing demand due to ‘payment shock,’ investors pulling back, and a ripple effect of rising rates moving up market, according to Rick Palacios…
Buyers Are Looking For Reasons Not To Pay So Much
A report from Hawaii News Now. “The Honolulu Board of Realtors says the median price of a single-family home on Oahu fell slightly to $1,105,000 for April. The number of homes pending sale also fell — a sign rate hikes…
This Had To Happen Sometime And It Seems That Time Is Now
A report from the Daily Local News in Pennsylvania. “‘What am telling my buyers is that (demand for houses) may never cool off in this area,’ said Steve Laret who heads up the Steve Laret Team with Vanguard Realty Alliance…
Nobody Else Was Bidding, Did I Pay Too Much?
A report from the Peninsula Clarion in Alaska. “The market in Seward has adapted to the competition, said Nicole Lawrence, the owner of Seward Properties. Another way buyers are trying to be competitive, Lawrence said, is by waiving the appraisal…
A Lot Of These Sellers Are Not Accepting The Reality Of What’s Happening
It’s Friday desk clearing time for this blogger. “Already recent housing-market data has shown the massive effect the surge in rates has had on home buyers. ‘The pandemic boom in home sales is over, and activity is back at pre-pandemic…
Prospective Buyers Are Saying, I Don’t Have To Buy Today, Maybe I Can Get Another $50,000 Off
A report from Yahoo Money. “Eighteen percent of homeowners in the U. S. plan on selling their homes within the next twelve months, according to Realtor.com’s 2022 Home Sellers report. This is more than twice the 8% of homeowners that…
Inquiries From Buyers Collapsed And Prices Are Going In The Same Direction
A report from KIRO 7 in Washington. “Homebuyers have faced a hot housing market for years, but things may finally be cooling off, and buyers could see more leverage in the market. ‘It’s awesome news for homebuyers who have been…
No One Buys Because They Think The Prices Will Drop, So They Drop
A report from Housing Wire. “BJ Witkopf is a mortgage specialist with Assurance Financial: Planet Earth has has gone from a ball of molten rock to ice, and then, to the climate we have today. Just like Earth, mortgage rates…
I’m Up Shit Creek, I Never Thought They’d Give Me As Much Money As They Did
A report from Reuters. “In mid-April Harsh Grewal and his wife settled on a place in a San Francisco suburb and were prepping a bid, above the listed price so they’d have a chance of besting other offers. Then he…
Officials Continually Spout Unsubstantiated, Possibly Phony, Estimates Of Housing Need
A report from the Mississippi Clarion Ledger. Matt Wilson, President of the Mississippi Mortgage Bankers Association, believes the housing market’s current state is not something about which to be alarmed. ‘Mortgage rates are up, and they went up a little…
Sellers Must Brace Themselves For Those Dreaded Words: The Market Has Spoken
A report from News Source 8 in Maine. “It’s no secret that real estate is a hot topic nationwide. ‘The average median price for Aroostook county is 129,950 dollars that is for a single family residential in Aroostook county. So…
I Was Misled, I Can’t Sell My House, It’s The Classic Tide Going Out Thing
It’s Friday desk clearing time for this blogger. “Some listings are still getting multiple offers, but it’s not the frenzy that was happening six months ago, according to Youngstown Columbiana Association of Realtors President Dennis Gonatas. Gonatas said he had…
It Feels Like Someone Turned The Lights Out
A report from 19 News Cleveland. “Layoffs happened at a popular home mortgage company headquartered in Northeast Ohio. Union Home Mortgage in a statement told 19 News they are temporarily adjusting staffing levels to accommodate rapidly changing conditions in the…
Advice For Other Sellers: Don’t Wait, If You’re Gonna Do It, Do It Now
A report from Marketplace. “‘Marketplace’ host Kai Ryssdal spoke with Vivian Gueler, chief financial officer of Pacific Trust Group in Los Angeles, about the mortgage brokerage industry and the housing market. Kai Ryssdal: Every single time we’ve gotten you on…
The Risks Of Real Estate Bubbles Caused By Rumors And Herd Instinct
A report from Banking Dive. “Wells Fargo has begun laying off an undisclosed number of its home lending employees, little more than a week after reporting mortgage origination volume had dropped 33% year over year, the bank confirmed Friday. Anonymous…
Some Guilt-Free Schadenfreude For You
A report from the Real Deal. “A digital lending platform is laying off 200 employees as a historic surge in mortgage rates tamps down applications. Blend Labs is letting go of roughly 10 percent of its staff to shed $34.5…
Surrounded By Unfinished Buildings Constructed By Distressed Builders
A report from the Los Angeles Times. “Christopher Thornberg, founding partner with Beacon Economics said Orange County and the rest of Southern California are relatively inexpensive compared with other major metropolises around the world. Given the area is home to…
Overnight, The Bottom Dropped Out On Us
A report from the Idaho Statesman. “A one-bedroom apartment in downtown Boise costs about $350,000 to build, and one elsewhere in the Treasure Valley costs about $270,000, said Clay Carley, a developer. Outside of downtown, Jim Tomlinson, a developer with…
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