Housing

The untimely end of San Francisco’s Tech and Housing Bubbles

by Wolf Richter •  • Comments Off on The untimely end of San Francisco’s Tech and Housing Bubbles

“Recently, the billionaire venture capitalist Vinod Khosla went hunting for one-bedroom apartments in San Francisco….” And then he opened his mouth.

Real Economy Bites Housing Bubble 2

by Wolf Richter •  • Comments Off on Real Economy Bites Housing Bubble 2

When the home-sales curve kinked south last fall, soothsayers had some handy reasons. And it would be temporary. Month after month, they came up with new reasons. Now they’ve used up all the good ones, but sales are still tanking.

Housing Bubble 2 Already Collapsing for the 99%

by Wolf Richter •  • Comments Off on Housing Bubble 2 Already Collapsing for the 99%

This is precisely what shouldn’t have happened but was destined to happen: as prices are soaring, only luxury home sales are growing … 1% of the market! Something has to give.

Housing in Six Cities in the West

by Wolf Richter •  • Comments Off on Housing in Six Cities in the West

That’s how it always starts: with a deadly mix. Home sales are collapsing while inventories are soaring in six housing markets that had been white-hot just a few months ago.

Housing Bubble 2.0 Veers Elegantly

by Wolf Richter •  • Comments Off on Housing Bubble 2.0 Veers Elegantly

They’re not even trying to blame the weather this time. “Housing affordability is really taking a bite out of the market,” is how Leslie Appleton-Young, chief economist for the California Association of Realtors explained the March home sales fiasco. “We haven’t seen this issue since 2007.” In Southern California, the median price soared to a…

Hot Air Hisses Out Of Housing Bubble 2.0: Even Two Middle-Class Incomes Aren’t Enough Anymore To Buy A Median Home

by Wolf Richter •  • Comments Off on Hot Air Hisses Out Of Housing Bubble 2.0: Even Two Middle-Class Incomes Aren’t Enough Anymore To Buy A Median Home

Giant PE firms and REITs have become the largest landlords in the country over the last two years because “there was a moment in time where it made sense,” but now home prices are too high, the business model has collapsed, and buyers evaporate.

Bay Area Home Sales Plunge To 2008 Levels, Prices Soar

by Wolf Richter •  • Comments Off on Bay Area Home Sales Plunge To 2008 Levels, Prices Soar

It starts here: evictions in San Francisco hit the highest level since 2001, when the dotcom bubble was disintegrating. Everything these days gets benchmarked against the last bubbles: the dotcom bubble that blew up in 2000, the housing bubble that blew up in 2007.

What Caused The Glorious Jump In Household Wealth (In One Insanely Good Chart) And Who Will Blow It Up Again?

by Wolf Richter •  • Comments Off on What Caused The Glorious Jump In Household Wealth (In One Insanely Good Chart) And Who Will Blow It Up Again?

The stock market has soared for five years, risks have ballooned, home prices have jumped. Gains built on the quicksand of endless liquidity and a lackluster economy. “Irrational exuberance” is back in the Fed’s vocabulary. As the Fed’s Fisher said, it may end “in tears.”