Claims that inflation is contained may ring true in an alternate reality where people don't eat or drive and only live in prime locations, but Dr. Housing Bubble can see why so many are so angry as it turns its eye toward Compton, Calif., where a home that sold for $110,000 in November 2003, $235,000 in September 2004, and $310,000 in December 2005 is back on the market--and approaching 2003 levels at $175,000. For that story and more, check out Big Builder's bi-weekly roundup of the latest in opinion and commentary across the Web.
Neighbors often join forces to reap the benefits of group garage sales, which prompts The Wall Street Journal to ask if the same sort of behavior--holding open houses at the same time for increased foot traffic--would help move inventory in the resale market.
The Housing Bubble reports on the plight of Florida's condo market, where many residents are forced to pay increased HOA dues as their tenants battle foreclosure and fall behind in their own contributions.
In Santa Cruz, Calif., one man was single-handedly responsible for nine foreclosures in April--not entirely surprising considering the fact that California cities account for 60% of the top 10 U.S. Markets with the highest foreclosure rates, according to BusinessWeek's Hot Property.
Conversely, Rapid City, S.D., has seen year-over-year pricing increases, despite the fact that for-sale inventory is up compared to 2007, according to Inman News. South Dakota boasted the second-lowest foreclosure rate in the U.S.--one filing per every 14,657 homes--for the month of April.
Reggie Middleton's Boom Bust continues its comparison of the current securitization crisis to the S&L crisis of the 1980s and '90s, turning its attention to the municipal bond market.