May 2009

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U.S. home prices fall 19.1% in first quarter

Submitted by Admin on Wed, 05/27/2009 - 13:54

Bubblenomics

From the LA Times, May 27, 2009

U.S. home prices showed no signs they've hit bottom, according to a series of national indexes released Tuesday. The Standard & Poor's/Case-Shiller national home price index showed a record 19.1% drop in home prices for the first three months of this year.

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At $2.3 Billion, This Mall Could Be Too Big to Fail

Submitted by Admin on Wed, 05/27/2009 - 13:52

Bubblenomics

From the NY Times, May 19, 2009

The chair lifts, fans and snow guns are in place, which means that the 800-foot indoor ski slope, the only one in the country,is ready to be covered with manufactured snow. ... But the 2.4-million-square-foot Meadowlands Xanadu is eerily quiet.

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Recession Turns Malls Into Ghost Towns

Submitted by Admin on Fri, 05/22/2009 - 12:14

Bubblenomics

From the Wall Street Journal:

"This time around, because of the dramatic changes in consumer spending practices, we're very likely to see more malls in the death spiral than we've ever seen before," says Green Street analyst Jim Sullivan.

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Stimulus Money Pays for Oklahoma Park Upgrades

Submitted by Admin on Thu, 05/21/2009 - 13:51

Bubblenomics

From News 9, May 21, 2009

The National Park Service is set to receive $750 million of federal stimulus funds. How about funds for urban parks?

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Deadmalls.com

Submitted by Admin on Tue, 05/12/2009 - 16:19

Deadmalls.com is a non-for-profit endeavor designed to promote the history of the malls as well as their nature, whether thriving or declining, and the impact of time and competition on these establishments.

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Abandoned construction sites making a mess of Valley roads

Submitted by Admin on Sat, 05/09/2009 - 13:53

Bubblenomics

We see them across the Valley, empty stores, for lease signs, abandoned construction sites for malls that will never be. What happens when what's left behind is not only an eyesore, but gets in the way of you getting around?

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Empty neighborhoods fill Rust Belt

Submitted by Admin on Mon, 05/04/2009 - 00:00

Bubblenomics

From the Associated Press

The number of abandoned homes scattered throughout the nation''s 65,000 neighborhoods concerns federal officials because of the potential to prevent the economy from recovering. Empty housing feeds upon itself. Experts say as more houses stand vacant, property values and tax revenues drop. The drop in property values lead to fewer buyers, which lead to more vacancies.

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