Three years ago today HousingDoom was launched with this less than hard hitting post. Doom started out as a project of myself and our admin, and we took a lot of heat for our rather pessimistic name. [How could housing be "doomed"?] It is somewhat ironic that when I look back at my predictions over the past few years, I have found that more often than not, I have been overly optimistic.
John came on board a few weeks after our inception, and we were joined by M and L shortly after that. Over the years our unofficial staff has been joined by our regular correspondents and posters. Igor has been with us of course since the beginning, but he has grown over the years to have a personality of his own. Our original intent with Doom was to launch a small website that focused on the effects of the housing bubble on the Phoenix housing market, but as our list of contributors has expanded, our focus has expanded as well.
My heartfelt thanks to everyone who has contributed so much of their time, talents and wisdom to try and make Doom a forum for reason in the housing market. You have all educated me, and I am grateful to count you among my friends. A special thanks to John. He has especially put in many, many hours of work in, not only with his posts but with keeping up our sidebar and working in our virtual back room.
This is an open thread, so while we pass around the cake and blow out the candles, let us know what’s on your mind.
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Happy Birthday Twist, John, admin, et al! Thanks for all the info for the past couple of years!
Hope the site sticks around even after you buy a place, Twist!
I say Obama create a “Truth in Housing” Czar and name Twist to the position (Canadian Prime Minister Harper can do the same for John).
Congratulations for persevering these three years. When others were lining up to drink the Kool Aid, you were among the few who foresaw impending doom and sounded the warning. Those who took heed owe you a debt of gratitude. Those who did not are among the wreckage.
“One out of every eight mortgage holders in the U.S. is delinquent on their loan, the Mortgage Bankers Association (MBA) reported Thursday, May 28, 2009. The combined percentage of loans in foreclosure and at least one payment past due, meaning the percentage of mortgage holders not current on their mortgages, was 12.07 percent on a non-seasonally adjusted basis, the highest ever recorded in the MBA delinquency survey.”
HAPPY BIRTHDAY!!!!!
Happy Birthday also from Germany
Keep up the great work!
Thanks guys. I’m not sure how long I thought I’d be “Dooming”, but not quite this long. I’ve sat down more than once to write the post Twist says goodbye. I can’t stop watching the real estate disaster though- I’m like a moth to the flame. I guess as long as I’m watching I might as well keep writing.
Thank heaven that John like me has found Doom to be his “Hotel California”- he has tried to check out several times, but he hasn’t left. When he’s been out on sabbatical I’m reminded just how much he really does around here.
MikeC-
Housing prices in the Phoenix area have fallen to levels below my original price goal to buy. For a long time Mr. Twist and I joked about buying the home we built in 2002 and sold in 2005 as a REO- for less than what we paid to build it.
Our buyer was a small commercial developer who promptly went out and got a HELOC on the place, so I suspect the opportunity will come up. Until the dust settles though, I’m comfortably seated here on the fence with my popcorn and soda. It will be awhile.
Happy Birthday all!
3 years is a long time in the blog world and I, for one, am happy to see Housing Doom still at it. I continue to come here for the insight into the Phoenix, Tucson, and Las Vegas markets (among other things). Thank you
Happy Birthday Twist, John, and all the regulars here! It’s been (and will no doubt continue to be) a pleasure.
Happy Birthday! Thanks to everyone for the hard work put into the site! Through your efforts you’ve saved several people from being another foreclosure statistic.
thanks twist and everyone else!!! i LOVE this site.
I sent in my rent check today, even though I can now pay cash for a house that went for 500K two years ago. This blog has been an invaluable resource to any and all who were open-minded enough to see the signs and, more specifically, understand the long-time and continuing relationship between personal incomes and housing values.
So, thank you Twist. Oh, and my landlord thanks you as well, even though he has likely never browsed here.
It is amazing how right you all have been. Happy Birthday. I started off as a somewhat skeptical homeowner who thought this site might be a renters sounding board. You were so right on
Happy anniversary.
Three years, excellent.
One can now purchase an REO version of my last house (same model, same subdivision) for less than my 2002 purchase price. About 15% less. And that 2002 price was a (moderately) discounted REO price itself.
Any guesses how long the 8,000 to 10,000 monthly foreclosure filing rate (past few months) will continue in Maricopa County? We are getting like a year’s worth (pre-bubble levels) of Trustee Sale Notices in less than 60 days at this point.