{"id":32,"date":"2005-12-23T07:24:00","date_gmt":"2005-12-23T14:24:00","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=32"},"modified":"2005-12-23T07:24:00","modified_gmt":"2005-12-23T14:24:00","slug":"how-the-grinch-stole-home","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/32\/how-the-grinch-stole-home\/","title":{"rendered":"How the Grinch stole home…"},"content":{"rendered":"

<\/p>\n

Interest rates are down<\/a>, Gas prices are down<\/a>, housing starts nationwide are up<\/a>, and home prices in the Valley are up<\/a>, so you know what that means. Yup, the sky is falling yet again.<\/p>\n

Affordable homes are vanishing<\/a>. Vanishing! It must be the Grinch, slinking around with a bottomless bag full of affordable homes. And all the poor Whos down in Whoville–er, Phoenix–are rapidly becoming impoverished by their incredible real estate wealth<\/a>.<\/p>\n

Truly, these are Trying Times…<\/p>\n

Here, by way of a metaphor, is a way of understanding real estate reporting as it is practiced in the Valley of the Sun:<\/p>\n

The rains in Phoenix are torrential! When a big storm is coming, the clouds will gather all afternoon, piling up hundreds of feet high. You’ll look off to the southeast, and it looks like the entire island of Manhattan is about to crash land onto the Valley. But first comes the dust, a thick carpet of brown grit propelled by sixty-mile-an-hour winds. And the first hint of precipitation may not even be rain: Golf-ball size hail is a common precursor. By now the winds will be entirely untamed, ripping away branches and uprooting whole trees, blasting picture windows right out of their frames, even tearing the roofs off of older homes. When the rain finally comes, it drenches, dumping inches of rainfall in a few short minutes. Flood retention ponds overflow. Sewers back up. The washes and floodways rush like rivers gone mad. If you are foolish enough to get caught in the path of the water, your car may be pushed hundreds of yards downstream–or totally submerged. A storm in Phoenix is like a storm nowhere else.<\/p><\/blockquote>\n

Every bit of that is true, and none of it is relevant. We have three or four storms like that every year, almost always in the late Summer. They’re over in a couple of hours and life goes on. Rain is interesting in Phoenix, but one of the things that makes it interesting is that it is extremely rare.<\/i><\/p>\n

So: Is it possible that a homeowner could live through a 60% run-up in the value of his home Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Interest rates are down, Gas prices are down, housing starts nationwide are up, and home prices in the Valley are up, so you know what that means. Yup, the sky is falling yet again. Affordable homes are vanishing. Vanishing! It must be the Grinch, slinking around with a bottomless bag full of affordable homes. And […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-32","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-general","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1705,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1705\/from-the-starpower-conference-reasons-for-optimism-in-the-current-real-estate-climate\/","url_meta":{"origin":32,"position":0},"title":"From the StarPower Conference: Reasons for optimism in the current real estate climate","author":"Greg Swann","date":"July 28, 2007","format":false,"excerpt":"From Howard Brinton's closing remarks tonight at the StarPower Conference, here are Gregg Neuman's Top Ten Reasons for Optimism:10. 3,600 fewer agents in my market \u00a0\u00a09. Downward pressure on commissions is gone \u00a0\u00a08. Developers\/builders welcoming us again \u00a0\u00a07. Discount brokerages vanishing \u00a0\u00a06. FSBOs are extinct or nearly so \u00a0\u00a05. Foreclosure\/short\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17256,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17256\/the-real-estate-correction-of-2021\/","url_meta":{"origin":32,"position":1},"title":"The Real Estate Correction of\u00a02021","author":"Brian Brady","date":"October 6, 2020","format":false,"excerpt":"Over 13 years ago, I tried to explain how mortgage securitization would cushion losses to investors and lessen the negative effects of mortgage defaults to real estate prices: Basically, the Titans of Wall Street never had to answer for the performance of these loans because the money managers wanted that\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/10\/tim-mossholder-DZcZ4Kskq6U-unsplash-1-480x320.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17963,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17963\/overnight-news-q-what-do-you-call-a-woman-in-a-maternity-flight-suit-a-ms-guided\/","url_meta":{"origin":32,"position":2},"title":"Overnight News: Q: What do you call a woman in a maternity flight suit? A:\u00a0Ms.\u00a0Guided.","author":"Greg Swann","date":"March 15, 2021","format":false,"excerpt":"We are mad, and we are intolerant only of those who call us mad. The actual news of the day consists of briefly vanishing truths instantly smothered under the Hissy-Fit Veto \u2013 the hysterical version of the Heckler's Veto. Don't believe me? Tucker Carslon made the factual observation that the\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":34,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/34\/housing-is-is-more-affordable-despite-contrary-opinions\/","url_meta":{"origin":32,"position":3},"title":"Housing is is more affordable despite contrary opinions","author":"Odysseus","date":"December 30, 2005","format":false,"excerpt":"From the New York Times (registration required:Despite a widespread sense that real estate has never been more expensive, families in the vast majority of the country can still buy a house for a smaller share of their income than they could have a generation ago. A sharp fall in mortgage\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1857,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1857\/unless-bloggers-begin-covering-school-board-and-city-council-meetings-major-and-not-so-major-crimes-serious-and-not-so-serious-accidents-and-fires-weather-issues-of-importance-to-the-few-and-to-the-ma\/","url_meta":{"origin":32,"position":4},"title":"“Unless bloggers begin covering school board and city council meetings, major and not so major crimes, serious and not so serious accidents and fires, weather, issues of importance to the few and to the many and issues of little interest to themselves—all this on a daily basis—they will not provide the services now covered by the mainstream press”","author":"Greg Swann","date":"August 26, 2007","format":false,"excerpt":"Damn straight. And it is pure agony to get a horse shod, too. The headline is quoted from a luddite's lament in The Age -- in Melbourne, Australia. Technology threatens the jobs of the farriers of our age, newspaper reporters, and there is nothing for it but to weep incessantly\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/25\/antless-shrugged\/","url_meta":{"origin":32,"position":5},"title":"Antless Shrugged","author":"Odysseus","date":"December 11, 2005","format":false,"excerpt":"Jonathan Higuera in the Arizona Republic asks: \"Are home costs scaring firms off?\" The article consists of the dutiful transcription of the unfounded fears of \"Barry Broome, president of the Greater Phoenix Economic Council.\" If you are intrepid enough to read the article all the way to the penultimate paragraph,\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/32","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=32"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/32\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=32"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=32"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=32"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}