The Arizona Republic reported today that the Arizona economy was the fastest growing in the nation in 2005.  The gross state product increased by 8.7%.  While there was growth in several sectors, the sector with the greatest contribution to this growth was construction. It was interesting to note that the three states with the greatest growth were Arizona with 8.7%, Nevada with 8.2%, and Florida with 7.8%.  All three are among the states with the most overheated markets.  Fortune magazine rates the Phoenix, Las Vegas and Miami markets as all being in the “dead zone”- markets that have left their…
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The news just kept getting worse today for home builders.  First comments from the Federal Reserve’s Chairman Bernanke seemed to indicate that the Fed would not be holding the line on increasing interest rates.  Interest rates seem likely to increase for the 17th straight time in response to continuing concern about inflation. Then there was more bad news for a number of major builders.  Lennar, KB Home, Pulte, and DR Horton were all downgraded today by Wachovia Securites.  There are worries the high inventory levels will adversely effect earnings.  All four builders closed lower in the market today.

 So your friends tell you you’re too apocalyptic?  They believe you just focus on the negative?  Why don’t you try some of my favorite “Happy Talk” sites?  Of course, if you’re like me, you may find that the talk rings hollow, and you’re more of a doom and gloomer than before- but you can give it a shot.

Want to keep track of when housing and economic reports come out? Here is a monthly schedule of release dates from the U.S. Census Bureau DATA HERE

I started tracking inventory and sales April 21, 2006 in Gilbert, AZ, a Phoenix suburb in the East Valley.  On that day ZipRealty showed that there were 2296 homes for sale (not including FSBOs) in Gilbert.  Adding the number of sales in the four principal zip codes of Gilbert (info from Arizona Republic website) the sales that week totaled 171, for a ratio of 13.4 to one.  That would be slightly more than a four month supply.

Welcome to "HousingDoom"- a new home for "Doom and Gloomers" to share their views, and learn about the potential housing bubble bust.  It’s going to be a few days before we are really up and running, but feel free to put your two cents in.  Any suggestions, info, useful links would be much appreciated.