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."
May 29, 2006
"Code Red" for the Phoenix Housing Bubble
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7 comments:
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.
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
maybe neighbors in Phoenix could get together and offer two-for-one deals, put up a blue light outside their place?
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.
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
>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.
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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