Remember this little altercation between Schiff and the Beverly Hills Realtor?  They’re at it again:  [Video works better for me in IE than Firefox] Edit (Admin): Just use the youtube version – the other one had issues. If you are having difficulty watching the video, Housing Panic has a YouTube version.

I’ve thought for awhile now that  the comedy skit "George Parr on Subprime" was some of the best "reporting" I’ve seen on the credit market.  Now after reading any number of annoying  "Economic recovery in 2008" articles from the "experts", I’m glad to have found another nugget of wisdom- humor writer Dave Barry sums up 2007: [Hat tip to Doom's sys admin] On the economic front, the dollar continued to lose value against all major foreign currencies and most brands of bathroom tissue. There was a major collapse in the credit market, caused by the fact that for most of…
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Check this out from M’s junk e-mail.  You can buy this home for $1.02 million- or lease it for $2,800/month:

Apparently the Bush administration decided to start out the New Year dishing out political double-talk on day one- no use putting it off I guess.  This from a chat with reporters on Air Force One yesterday: More steps by Congress and the Bush administration are likely needed to stabilize the imploding U.S. housing market, a senior White House official said on Tuesday, as more signs of distress appear. Ed Gillespie, counselor to Bush, pointed to efforts by the U.S. Congress to overhaul the Federal Housing Administration program developed in 1934 amid the Great Depression and designed to make home ownership…
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Thanks as always to M for checking the numbers for us- even on New Year’s Day.  Here’s the unofficial early Phoenix home sales for December according to the MLS: [And remember the sales number may creep up slightly as agents have a few days to update their listings] ACTIVE                           52,278 UNDER CONTRACT              3,465 SOLD                               3,465  (Yes, they are the same number) EXPIRED & CANC.              10,980   Since 12/01/07 According to ARMLS, 5393 homes sold in December 2006, and 3318 properties sold in November 2007. The "Under Contract" figure is…
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To Doomers everywhere: If you’re buying a home this year-      Here’s hoping you find an affordable pad in a stable market. If you’re selling a home this year-      Here’s hoping it moves quickly and sells for a reasonable profit. May all your trades be prosperous, your bank adequately capitalized, but most of all,     Here’s hoping you have all the good things in life that won’t be found on a balance sheet.

  From all of us here at Doom Castle, Happy New Year!