May 29, 2006

"Code Red" for the Phoenix Housing Bubble


Oh, man, Phoenix is so F'd I'm not sure if they even realize it yet. HP does... 47,225 listings by the way - let's see 50!!!

Code red on housing

Real estate analyst RL Brown has gone code red on the Valley's housing market. In his May newsletter released last week, Brown changed the background on his forecast from yellow to red. Yellow stood for caution. Brown has done the color codes signaling his take on the market for the past few years.

He has never gone red before. Brown said the red signals the housing "market continues to deteriorate. Hopefully that condition and color will be short-lived."

23 comments:

Anonymous said...

Ok, but if he does rainbow colored "threat alerts" I am going back to hiding under my bed and only coming out when "W" or O'reily tell me its OK.

zinger said...

NEWS FLASH:

Has the Fed already gone too far, baking a recession into the pie? Will the delayed effects of past tightening kick in, with mounting ferocity, just as the housing boom plummets into bust?

"Housing mayhem seems unavoidable. The US hard landing begins now," said Charles Dumas, global strategist at Lombard Street Research.


BREAKING NEWS EVENT

zinger said...

Another good quote from the above NEWS FLASH:

Mortgage applications are down 17pc in a year. House sales are down 5.7pc, and inventories of unsold new houses are at their highest since 1996. The central prop holding up the US consumer boom is crumbling, leaving behind record household debts equal to 127pc of disposable income.

Anonymous said...

The oecd says the dollar could devalue by an order of magnitude of “one-third to one-half”! That means anyone with any dollar-denominated savings would see their hard-earned bank accounts become worth one-third to one-half the value they are today.

Read the full article - this is not an advertisement, just my sense of humor:
Don't PANIC - BUY GOLD

Mike in Pacific Beach said...

Fed did a great job if you were smart enough to rent the last few years in Phoenix.

There has been so many houses built and no demand for them we could see some of the cheapest housing ever in the next few years.

uknowwhoiyam said...

The Phoenix RE market looks to be really, really screwed.

Excellent deals should be plentiful soon.

AmazingRuss said...

Too bad they're all in Pheonix.

There were a lot of cool things about Phoenix, but I never could get over the yellow sky.

Anonymous said...

maybe neighbors in Phoenix could get together and offer two-for-one deals, put up a blue light outside their place?

Metroplexual said...

The rental market is a sure fire indicator of a glut. Look at how many say brand new never lived in. LOL! Screaming good deals coming soon.

Anonymous said...

as rents plummet because of the glut in unsold condos and houses, that'll take the government's bogus inflation number down, making it even more bogus

Anonymous said...

>The Phoenix RE market looks to be >really, really screwed.

>Excellent deals should be >plentiful soon.



LOL. For what? Tell me, what are you going to do with your excellent deals? Hilarious.

zinger said...

THE INFORMATION WAR has been started.

The BREAKING NEW EVENT posted as the #2 post on this thread... won't pull up the news story.

My #2 and #3 posts, copied a few fragments of this article before the powers that be... made the news article unaccessable by creating some kind of computer search error.

ALL HELL MUST BE BREAKING LOOSE IN WASHINGTON for these attacks and the attacks on housing bubble blogs and dollar negitive global financial news.

****NOTICE TO ALL IN WASHINGTON D.C.

Sticking the masses head in the sand by BLACKING OUT THE TRUTH won't stop the USD DOLLAR CRASH!

It may slow it a little and prolong the pain. The world order is going to change. You never should have let Asia steal our manufacturing base using currency rigging games. You were sold a pile of shit that the rest of us working class Americans are going to have to eat for the rest of our lives. I have deep inside connections in the CIA that you don't know about and know that I'm right and that you are not acting in the BEST INTEREST OF THE AMERICAN PUBLIC!

You know who I am or can find out easy enough. But I'm not the problem just the messenger. If I had the faintest idea how to fix this screwed up mess you would be the first to know.

GOD BLESS AMERICA. We are going to need it in spades.

Anonymous said...

Interesting article in the AZ Republic today that basically says most of the 40,000 sellers in Phoenix are crazy idiots. They still think it is last year, and they are so deep into debt that they cannot lower their price. Hello foreclosure.

I am a resident of Phoenix, and own 4 properties, 3 rented with great cash flow and year-end tax savings. Looking to be buying more when reality crashes. See the other posts on condo auctions in Phoenix and Tempe. I also sold 2 other investments last year at the height of the craze to some of these idiots.

I may buy them back.

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Anonymous said...

Here's the home buying process into a single weekend. She does it by compressing the real estate marketing budget into a much tighter timeframe than normal .

Anonymous said...

Hint #13 for . Three is A Crowd: Avoid having too many people present during a showing. Potential buyers need to feel at home, not like intruders being hurried through the house.

Anonymous said...

Enjoyed visiting your blog. Good read. Any of your readers want to put in front of thousands of potential buyers immediately. Uniquely. Literally in a way no other real estate experts can ... .

Anonymous said...

I don�t really have a useful comment on your site, but it was a nice break from my own real estate work. I just weanted you to know I enjoyed the visit and hope you can visit my site if you have a chance.

Anonymous said...

Here's the home buying process into a single weekend. She does it by compressing the real estate marketing budget into a much tighter timeframe than normal .

Anonymous said...

Here's the home buying process into a single weekend. She does it by compressing the real estate marketing budget into a much tighter timeframe than normal .

Anonymous said...

So many blogs, so little time. Got to get back to work on my own real estate sites. Enjoyed the visit. Stop by my site if you have a chance.

Anonymous said...

. Pets Underfoot? Keep them out of the way ... preferably out of the house. Many people are acutely uncomfortable around animals. Nothing can stop a sale faster than man's best friend, wagging its friendly tail at a prospect with an allergy.
Go here for more ideas.

Anonymous said...

Even if you sell your home "as is, subject to inspection" � you can do a lot to . A top-notch Realtor� will probably hand you a list of at least a dozen things you can do to help improve your sale. If they don't, well, maybe you need to .