Week Links - May 9, 2008

May 9th, 2008

A random collection of recent real estate news notes, articles, and updates:

Bad MLS Photo of the Day
A jaw-droppingly horrifying, actual MLS photo found on a listing in Southern California. You just have to see it.

Sell your house by owner, by auction, or…by writing contest
A $1.25M Florida plantation to be given to the winner of a writing contest. For a $200 entry fee. Oh, and just 6,250 entries needed. (Found by AgentGenius)

Why Did the Mortgage Crisis Happen?
Local economist and writer Bill Conerly starts a 5-part series at his Businomics blog. Interesting reading and brief, so not too overwhelming. His topics:

• The Great Moderation and the benign housing cycle of the 2001 recession, which made real estate appear to be safe
• Securitization, which changed the funders from lenders to investors, while making the products too complex for most anyone to understand.
• With these two factors in place, the mortgage crisis evolved from the last recession.
• What to expect next time round.

He’s a little more bullish on forecasts than many, as written here and here.

CNN/Money highlights real estate slowing in Portland and other ‘bulletproof’ cities
Seattle, Charlotte are not immune, either

The Party’s Over
So says a sobering report by the Oregon Business Magazine.

Finally,
Phone book deliveries must cease
I say AMEN, brother! One copy per year, ok, but does anyone else think eight phone books a year is a waste?

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Entry Filed under: Diversions, Forecasts, Mortgages, National News