Housing Doom Housing Bubble Blog

[Hat tip to MR for this one!]

A number of organizations have banned together in Tucson to put together Stop the Sharks, an anti-predatory lending website, and sponsor a  workshop on May 16:

Come to our Tucson workshop to learn about our community’s vulnerabilty and discuss what we can do to end shoddy lending practices in Arizona. Consumers can best protect themselves by becoming more informed.

Join us for the discussion, on May 16, on how predatory lending is degrading our state.

As MR pointed out to me, holding the workshop on a Wednesday afternoon might make it difficult for the working people it’s supposed to help to attend, but it’s a start.

I’m not certain how effective the workshop will be, but I really liked their logo:

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Anyone who reads enough listings knows what some of the little catch phrases mean. One is "move in ready," which is "Realtor-speak" for "This place is empty." Well, if empty is what you are looking for, opportunities abound in Phoenix: [Thank you M for the update!!!]

ACTIVE                     52,651

ACTIVE (VACANT)  23,825

45% Vacant

ACTIVE (TENANT OCCUPIED)  2,862

51%* Are not Owner-Occupied

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Bears have to really appreciate Doug Kass’ 15 Reasons Stocks Should be Falling:

Every morning over the past two months, I have woken up and looked at myself in the mirror. I say to myself, "Self, I am a worthy human being. Are stocks cheap enough, liquidity strong enough and, doggone it, interest rates low enough, for the stock market to continue to rise?"

With every data point of stagflation — a weakening U.S. dollar, slowing economic growth, moderating retail spending and weakening housing – my pulse quickens as if my general thesis is confirmed, but we see little confirmation in the market’s immediate response to these downward-trending government releases or in the face of other recent earnings/economic warnings.

In the current one-way market, all problems are overlooked — and rationalized.

What do you think Doomers?  Are problems being overlooked, rationalized, minimized?  We always appreciate your links, comments, suggestions, and ideas.

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I received a great email from PW, who is moving back to Las Vegas after spending a couple of years in California.  He found the following advice from Arina Hanciulescu, a Las Vegas Realtor, along with the April 2007 report:

Homeowners who don’t have to sell now could pull their homes off the market or avoid listing altogether to wait for a tighter, more seller-friendly environment.

The market will take care of itself. We’re probably at the peak of inventory. It’s just going to take six months to run through it and get back to levels builders feel good about.

Local real estate brokers and agents say they’re already noticing signs of a reviving market.

PW said:

Something seemed familiar, so I turned to the Housing Doom archives. And there is was, the link in your Nov 11, 2006 post:

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