From CNBC News:
IS THE HOUSING CRISIS REALLY A “CRISIS”?
In his commentary, Dennis Kneale crunches the numbers.
Dennis’ white board explanation of the actual numbers, puts it all in perspective.
Are we really in a housing crisis?
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{ 3 comments… read them below or add one }
Nice video. I also like your charts and information regarding the market information on the zip codes in Downtown Scottsdale.
Bullocks! I wonder how the people in a short sale or foreclosure feel or the many people loosing jobs and others having to deal with rising prices while wages continue to stagnate, at leaset in AZ.
In June 2008, 40% of the real estate sales recorded in Maricopa County with the Assessors office were REO’s.
The price deline of 1.x% is based on a year end by year analysis, at the same time the ASU RSI index indicates double diget declines from 4/07 to 4/08.
Artur,
Arizona has definitely been hit harder than most of the rest of the nation. At the same time, here in Phoenix, all areas (towns and neighborhoods) are not experiencing the same level of foreclosures, nor the same level of depreciation.
I do agree with you that it’s a challenging time we live in. At the same time, the individuals that I’ve been working with who are facing short sales and foreclosure have been frustrated, yet realistic about their role in the situation and how they got there – whether it be by financial decisions they made or unexpected life circumstances.
You would have appreciated the real estate market futures panel at Inman Connect this week, where they had the bulls vs. the bears. It was taped, so you may get a chance.