Monday, April 04, 2005

Eyes On The Exit In Arizona

Investors may have over-bought in one Phoenix area community, and its starting to show. "'I think it's a lot of investors putting their houses on the market at the same time,'said Brett Barry."

It seems rents are not keeping up in the desert north of the city. "There are quite a few vacant, on lockbox," said Doreen Drew, an Anthem specialist. "There are quite a few with no landscaping, no window coverings, no ceiling fans, on the rental and for-sale markets. That tells me they are investor homes."

"Anyone with even a mild interest in Phoenix's housing market is on alert for the first sign of investor selling." AZ Central.com

6 Comments:

At 7:48 AM, Anonymous Anonymous said...

this is a really great site, thanks for all the hard work

 
At 8:00 AM, Anonymous bwalker said...

Hi Ben
I would like to talk with you about your blog, please contact me - bwalker at gmail.com

 
At 6:53 PM, Anonymous Anonymous said...

Is there a way that we can contact you Ben, if we want to forward articles ?

I think this is relevant:

http://www.morganstanley.com/GEFdata/digests/20050404-mon.html#anchor0


It doesn't mention real estate or bubbles explicitly, but it gives the idea that the US consumer is in no shape to sustain a big mortgage payment.

 
At 7:02 PM, Anonymous Anonymous said...

It is a bubble, but it won't pop:

http://story.news.yahoo.com/news?tmpl=story&cid=1518&ncid=1518&e=13&u=/afp/20050403/bs_afp/useconomyhousing_050403213045

 
At 7:05 PM, Anonymous Anonymous said...

Forrest Gump and housing ? Some day it will just stop. Also rents and ARMs:

http://www.dallasnews.com/sharedcontent/dws/bus/columnists/all/stories/040405dnbusdimartino.9dca1.html

Press the stop icon as soon as the text appears and you won't have to log in.

 
At 7:59 PM, Blogger Ben Jones said...

(Is there a way that we can contact you Ben, if we want to forward articles ?)

Yeah, the best way is through the comments board, which I check several times a day, more often than I check my mail. If you want my email address, I can provide it. Thanks for helping..Ben

 

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