Recent Housing Hype & Hoopla Already Fizzled: Mortgage Applications to Purchase a Home Plunged to New 28-Year Low by Wolf Richter • Mar 1, 2023 • 143 Comments The “Pending Sales Jump” (still -24% year-over-year) was like so January. This is still a frozen housing market.
The Most Splendid Housing Bubbles in America, February Update: Biggest Price Drops Now in Phoenix, Portland, Las Vegas, San Francisco, Seattle, Denver, San Diego by Wolf Richter • Feb 28, 2023 • 229 Comments Even in Miami and Tampa, prices down for 5th month in a row.
THE WOLF STREET REPORT: Housing Bust #2 Has Begun by Wolf Richter • Feb 26, 2023 • 228 Comments Some markets are already deep into it, others just started. A sobering trip from the free-money decade in la-la-land, back to normal.
Spring Selling Season Starts Ominously: Mortgage Applications to Purchase a Home Plunge to Lowest since 1995 by Wolf Richter • Feb 22, 2023 • 188 Comments Prospects of 7% Mortgages Return. Surge in activity in January from very low levels has fizzled.
Mortgage Rates Near 7% for Spring Selling Season: Prices of Existing Homes Fall 13% from Peak, on Lowest Sales since 2010 by Wolf Richter • Feb 21, 2023 • 164 Comments Market is still frozen, potential sellers sit on vacant properties, hoping this too shall pass. Cash Buyers, investors, second-home buyers pull back further.
Why the Fed Can Let the Housing Bust Rip: Mortgages, HELOCs, Delinquencies, Foreclosures, and Who’s on the Hook by Wolf Richter • Feb 17, 2023 • 272 Comments Mostly taxpayers, not the banks.
San Francisco Bay Area Housing Market Crashes, Prices Plunge 35% from Crazy Peak: Where’s Demand Supposed to Come From? by Wolf Richter • Feb 17, 2023 • 244 Comments In the first 10 months of Housing Bust 2 (now), the median price plunged a lot faster than in the first 10 months of Housing Bust 1 (2007-11).
The Most Splendid Housing Bubbles in Canada: February Update on the Housing Bust by Wolf Richter • Feb 16, 2023 • 114 Comments Hangover after a drunken party instigated by the Bank of Canada’s money-printing and interest-rate repression that turned buyers’ brains to mush.
Why the MBS Roll-off from Fed’s Balance Sheet Will Speed Up by Wolf Richter • Feb 8, 2023 • 146 Comments It was half the maximum pace. But rising home sales and, lo-and-behold, rising mortgage refis are about to change that.
Cut the Price by 20% and They Will Come: Homebuilder Meritage Explains New Era after Sales Orders Collapse by 46% by Wolf Richter • Feb 5, 2023 • 154 Comments Cutting construction costs by “aggressively rebidding” projects, and “walking away” from land deals: executives in their own words.
