Housing Doom Housing Bubble Blog

HousingDoom was born in June 2006 when this blogger had come to the conclusion that prices were overinflated and coming down in her hometown of Gilbert, AZ.  The Arizona Republic reported yesterday: [Thanks M!]

Hundreds of more Gilbert residents lost their homes to foreclosure in 2007 than 2006, according to data from Information Market, a real-estate research firm.

In Gilbert, 550 houses were foreclosed in 2007 compared to the 40 that filed in 2006.

Out of Gilbert’s six ZIP codes, 85296 was hit the hardest in 2007 with 128 foreclosures.

In January of this year alone, 106 people faced foreclosure in Gilbert. During the same month in 2007, 18 residents had their houses foreclosed.

Realtor Bill Morris, who manages foreclosed properties for banks, said the market is now adjusting itself after inflated values in 2006.

That’s an increase in foreclosures of 1275% year-over-year.

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It’s Friday, so we’re willing to consider off-beat topics around here.  Last night I discovered Igor with an unusual comment clasped between his talons.  I thought about letting  him have his way with it, when I thought, what the heck.  I’ll not only let it through but post it.  Here’s "Legal Immigrant’s" offer to buy a million dollar house from anyone who can help get his wife a visa:

I am a legal permanent resident (Green Card holder) with excellent credit history and savings. By buying a house, I can help any local economy get a million dollar boost. My American Green Card has given me an opportunity to live and work here legally. I am willing to invest in the American dream and support Americans and American economy at this turbulent time by investing in the economy. In return for investing, all I ask is to be united with my nuclear family: my wife, in America!

Any realtor, real estate agent or anyone who wishes to sell a house and who can help my wife get a visa to enter the US legally will get my business.

What kind of a Visa?

The spouse of a Green Card Holder is not eligible for a Visitor’s Visa! Any visa with an Dual Intent (Immigrant intent) is welcome. Alternatively, help with a Visitor’s visa is welcome too.

So Doomers, anything else unusual or of note we should know about?  Links, stories, comments, what have you?

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