Housing Doom Housing Bubble Blog

In my search for early hints for the direction of the Phoenix housing market, I like to check the website of local realtor Ron Wilczek who, for the past 10 months, has posted the square foot price for a number of Valley communities.  Since he started tracking these numbers last February, the square foot price of a home in Gilbert has fallen from $177/sq. ft. to $162 in November, for a drop of 8.5%:
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We at Doom were very impressed with the third comment [1] to appear under one of Ben’s posts on Thursday.

Comment by sheryl larson [web address indicates from Chicago]
2006-11-30 06:44:39
txchick’s comment spotlights why I despair for our future. Those heading into foreclosure deserve no compassion, no empathy and certainly no sympathy? Did you ever consider that maybe they weren’t all trying to make a quick buck? S— happens. Lighten up, people. Despite what you may want to believe, we really are all in this together.

Ms Larson’s sentiment needs to be seriously pondered. Our motto here at Doom is The housing bubble has burst- what happens next? What happens depends critically on our commitment to each other during a historically difficult time.

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