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POPSHome prices drop 15.3% year over year I began watching this whole mess play out in about 2004, and was aghast as prices continued to fly out of control. By the end of 2005, the housing fever was breaking and the "housing boom" was being seen for the bubble it was. Now, to look at the chart of prices even for the so-far relatively insulated New York, there's no mistaking which direction prices are headed. Not only that, it's heading ever faster in that direction. This "record" of 15.3% year over year drop won't stand very long. I'd be very surprised if we don't break it next month.
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POPSHousing Price data I didn't realize this data was made publicly available. Very interesting to see exactly how the market is performing in various cities.
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POPSHousing troubles go global The boom went around the world, it's no surprise that the bubble is following it. What surprises me is that it seems to catch everyone off-guard.
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POPSHousing is falling much faster than reported Even as a little as a few months ago, the deniers were still out in full force, saying that everything was going to be just fine. Now even the NAR is owning up to the trouble they've helped cause, and it's probably a lot worse than they're saying.
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POPSUpstate NY feels the foreclosure crunch I've talked with many people upstate over the past few years who said "it won't happen here." Risky lending practices are biting both the borrowers and the lenders in Upstate NY hard.
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POPSAnother subprime lender bites the dust Another in what I'm betting will be a long, long list of subprime (and other) lenders who now have to pay the piper for risky lending practices. The fed had to remind lenders recently to actually verify that borrowers could repay their loans.
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POPSSkyrocketing foreclosures and their collateral damage To echo what many are now saying - subprime is just the beginning. Adjustable rate mortgages, no-money-down, and other loans made to folks hoping to "invest" in a home have left many people holding properties that are quickly losing their value - as their mortgage payments continue to grow.
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POPSHome values in San Diego - zillow Graphs like this are actually surprising to me., If you believe this graph (which shows data on one particular house, as well as from all of San Diego), the decline even in this overheated market has been fairly linear. Of course, losing $50k on your house a year is not exactly comforting, but the measured decline is nothing compared to the almost exponential growth from 2004-2006
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POPSHousing flippers are upside-down As the market turns sour, many folks are left with mortgages for more than what they can sell their house for... if they can sell it at all! This blog tracks houses on the market and how much the flippers would lose at their current asking price. Ouch!
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POPSIs your house bubblicious? It took a while for reality to sink in, but things are happening fast now. The question on everyone's mind seems to be "how bad will it be?"
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POPSMcMansion-maker Kara folds as housing market turns sour I've been watching this bubble for a long time, and it's frightening to see how blind these builders were going into the downturn. I've heard horror stories of buyers with $150,000 deposits that are vanishing before their eyes as Kara files chapter 11. Everyone owed money by Kara from contractors to banks and investors is similarly screwed. Kara is the first, but will certainly not be the last as the housing bubble backlash hits.
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