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Last August HousingDoom reported on the Phoenix vacancy rate. Here’s how that report compares with today’s figures:
ALL MLS
Aug 6- 46,338 properties listed, 20,414 vacant Rate: 44%
Dec 1- 45,340 properties listed, 21,218 vacant Rate: 46.8%
Once more we have to thank our source for the early November sales numbers for Phoenix. Here’s the report I received this morning:
NOVEMBER SALES FROM MLS
2001 4,763
2002 5,312
2003 5,640
2004 8,021
2005 7,290
2006 5,283
CANCELLED 11/01/06-11/30/06 4,422
EXPIRED 11/01/06-11/30/06 3,215
CURRENT ACTIVES 45,260
Please…….BUYERS are Not reducing inventory…..it’s frustrated sellers!! We are at our lowest [sales] level since 9/11 and our country was still in shock in November 01.
Arise, Phoenicians, you have nothing to lose but your diets! This Saturday, December 2nd, Housing Doom Housing Bubble Blog founder Twist will be the featured speaker at the Arizona Breakfast Club. Now in its 37th season, the club has hosted notable personalities in the past including the late Arizona Senator Barry Goldwater.
A while ago Doom reader E sent Twist and me a short e-mail describing his find of a couple of graphs that dramatically reveal some truths about the housing market after the effects of inflation are filtered out. E is allowing us to post a version of his communication this Op-Ed Friday. Here’s the payload part.
Remarkable is "A History of Home Values" (U.S.) chart in the 8/27/06 N.Y. Times article "Read Between All Those For-Sale Signs". It shows ‘… the value of housing as an investment over time. It presents housing values in consistent terms over 116 years, factoring out the effects of inflation.’
AND *****
The above history is included on a Real Dow chart here, with this impressive observation: "Recently and unprecedentedly, home prices AND stock prices (expressed in consumer purchasing power) are contemporaneously far above extrapolated historical trends."
I recall quite well the impact the NYT chart had the first time I saw it.
As we read more about rising foreclosures, readers have been expressing an increasing interest in purchasing these properties. My thanks to L, who graciously forwards some of his "bulk email" my way- one person’s spam is another’s market trend indicator! Here’s one of his more recent finds:
Learn How To Profit From The Increase In Home Foreclosures!
Would you like access to foreclosure properties where you can make $7,500 to $15,000 in profit just by “flipping” the home to another investor? Or, earn $25,000 to $40,000 by selling the homes on the open market?
Would you like easy access to these homes by simply shopping online?
Would you like to learn how to earn a 25% to 50% return on your money using “non-performing” mortgage notes?
Would you like access to homes in rapidly increasing markets like
If so, you should attend a FREE WORKSHOP hosted by XXXXXXX:
At our 90 – minute workshop you will learn;
* How to accomplish everything listed above!
* How to get access to the funds needed to invest!
* How to use a "spread" to dramatically increase your net worth!
* How to take advantage of a changing real estate market!
* How to access detailed instruction and coaching on investing in real estate!
……………and MUCH, MUCH MORE!
IMPORTANT! Receive a copy of our informative FREE REPORT “How To Create A Real Estate Cash Machine” just for attending our Workshop!
The holidays are upon us. After John’s post yesterday on the possibilities of virtual real estate, I’ve decided to decorate the virtual office here at HousingDoom- I just need to figure out how.
So while I’m hanging the wreath and John’s trimming the tree, we hope you’ll take this opportunity to share links, stories, words of wisdom, anything you have that’s housing related.
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