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Unfortunately this IS the real deal, Evander Holyfield — you’re losing your house. HousingWire is reporting that Evander Holyfield has become the second major celebrity to succumb to buckling home prices and financial difficulty this week. Earlier in the week it was the aged Ed McMahon of Publisher’s Clearinghouse and Tonight show fame. [...]

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Canada has experienced a housing boom, not unlike many other English-speaking countries globally. According to the Globe and Mail, housing prices have doubled there nationally in the last 10 years. So, what are the prospects for Canadian housing and for the Canadian economy going forward?
The prospects for Canada certainly are better than [...]

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Housing wire has a very interesting piece out today, suggesting that the mortgage crisis in the U.S. has moved far beyond merely subprime and even Alt-A; Prime borrowers are now where the greatest increase in mortgage stress is being felt. After all, if Ed McMahon can default, the situation is very worrying.
“Among subprime borrowers, [...]

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The Telegraph is reporting that “house prices are now suffering their sharpest annual drop in 15 years, according to the latest survey from Halifax.”
See story.
Related storiesHouse prices: Should the Government intervene?, Telegraph, 05 Jun 2008UK faces worst slump since the 90s recession, Telegraph, 05 Jun 2008House prices: Growing risk of a more than 20pc fall [...]

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Question: Could one see a bubble in housing back in 2005 when house prices were still rising?
Well, to answer that question, I took the S&P/Case-Shiller Composite 10 Index and mapped it the rate of inflation. See, Robert Shiller, one of the Case-Shiller index authors, said in his seminal book Irrational Exuberance [...]

Along with the residential housing bust in Ireland, a commercial real estate (CRE) bust is definitely on the table. According to the newspaper the Irish Independent up to 10 billion euros of writedowns are possible for the Irish property developers and banks.

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I was just reviewing the Case-Shiller local metropolitan indices and saw that as the decline gets steeper, each of the 20 markets is reverting back to price levels 3 and 4 years in the past. So, here’s what I have on each metro area as of March 2008.
You last saw these prices in:
1. AZ-Phoenix——–March [...]

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The risks going forward for financial institutions and their capital base are large and growing. The blog CalculatedRisk has reported on yet another story that should give chills to bankers. This one is very significant: Chapter 7 bankruptcy.
A judge recently ruled against Cleveland-based regional National City in a case involving stated income loans. [...]

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The bloggers over at Calculated Risk have reported on a story making the rounds in the Internet. This story involves S&P’s downgrade of Alt-A Residential Mortgage Backed Securities (RMBSs). The crux of the matter is that S&P misjudged how much collateral in the underlying value of the homes there was to protect these [...]

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MarketWatch is reporting today that Nationwide has said that UK home prices are down a record amount.
House prices fell for the seventh consecutive month, dropping 2.5% from April, and were 4.4% lower than they were in May 2007, Nationwide said. The string of seven monthly price declines is also the longest since 1992, during the [...]