Phoenix comment thread [The Real Estate Economy]

Here are some responses to the great comments under the last post, "Housing and the Jobs Economy: Phoenix points the way" . . .
Sam and Bob, you’re right — as the builders dump inventory and reduce their pipeline of new units, the Pinel and Maricopa markets will once again find an equilibrium. Interesting projection in that mammoth (and expensive) study that Moody’s Economy.com released last month, "Housing at the Tipping Point": their model has Phoenix MSA peaking in the first quarter of this year, and predicts that it won’t bottom until Q2 of 2008. The price-drop for a median home from peak-to-trough is projected at 9.3 percent. A lot of that has already been absorbed by the market.
DD, interesting point about the building industry. Right, the most vulnerable actors on the supply-side are the tier 3 and 4 builders. Click on this thumbnail:
Sadie, AA, Ryan, Jennifer, Tweety and PT […]

Original post by noemail@noemail.org (noemail@noemail.org (Paul Kaihla) and software by Elliott Back