Week Links – October 31, 2008

A collection of recent Portland and national real estate news, compiled for you to read in your sugar-induced, zombie state tonight.

Because Everyone Else Was Doing It
This American Life – 355: The Giant Pool of Money &#8212A special program about the housing crisis produced in a special collaboration with NPR News and This American Life. It’s several weeks old, but if you hadn’t heard it, I highly encourage a listen.

Case-Shiller Shows PDX down 7.6% over 12 months
Consistent with what you’ve read here, the August 2008 Case-Shiller home price index for Portland dropped 1.3% from July, and 7.6% from August 2007. Tom Cusack at the Oregon Housing Blog says it was the largest decline in the 20+ years (where annual change data is available). Portland now has the 7th best ranking in the 20-city survey, but in January was #2.

Foreclosure scourge spreads into Oregon
Ryan Frank checks in on tri-county foreclosure rates and pillaged properties.

NAR Median Home Value MapNational Median Values
The National Association of Realtors rolls out a Google map of median housing values by metropolitan statistical area (MSA). If it’s easier to read values from a table, they have that, too.

Why Mortgage Workouts Are Stalling
Tom Royce at The Real Estate Bloggers comments on a CNBC report that the covenants of the mortgage-backed securities are hindering owners from renegotiating their terms.

U.S. Homeowners in Denial?
The delusion isn’t so pronounced in the West, but a recent Zillow survey shows that half of US homeowners are still under the impression that their homes have not lost value.

Finally, I leave you with:

What is it about Bacon?
Looking for bacon reviews? Bacon-inspired recipes? Of course you were! So, here is Portland’s own BaconGeek. Enjoy!

October 31, 2008 · Filed Under Forecasts, Livability, Market Activity, Mortgages, National News

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