Public radio station KJZZ (91.5 FM) is trying to combine the internet with radio today. I love that.
KJZZ will be taking live questions and comments from their web page. You don’t have to call in, just put your question or comment in the comment section here. They might use your question on the radio program.
Support KJZZ’s efforts to try something new and give them a question or comment.
Feel free to mention anything you’ve read at Arizona Real Estate Notebook.com in your question or comment. I would enjoy the publicity.
KJZZ is wrong to assume there is a bubble and it’s bursting but I admire their trying to combine radio and the internet.
{ 4 comments… read them below or add one }
Cbass 09.20.06 at 6:33 pm
I disagree that KJZZ is wrong about the bubble. I don’t listen to that station anyway though. Bloomberg on XM for me, they keep bringing up housing and its troubles with all the guests
It looks like PIMCO’s fed watcher thinks that Benny boy will try to lower interest rates in order to save the doomed housing market.
http://blogs.ocregister.com/lansner/
Personally I think the biggest problem will be unemployment related to housing slowdown. When Johnny scrub nugget gets laid off by Centex or Meritage homes he still has to make the mortgage payment. So after many months he finally gets backed into the corner and tries to sell, but there is already a mad rush to the doors and the lowball bidders won’t cover his first and second mortgages and he can’t compete with all the other inventory.
So John if there is no bubble what is the reason for the dramatic run up in prices over the last couple of years? Were we that undervalued and have no corrected to trend? Just curious.
John L. Wake 09.20.06 at 9:31 pm
Clay,
“… lower interest rates in order to save the doomed housing market.”
That makes a lot of sense. If gas prices decline and inflation worries subside he’ll feel he has leeway to lower interest rates.
“Personally I think the biggest problem will be unemployment related to housing slowdown.”
Agreed. Worst case scenario: housing slowdown triggers a recession…
“So John if there is no bubble what is the reason for the dramatic run up in prices over the last couple of years?”
I don’t know right now what the best term would be for the wild run up in prices. “Bubble” is bad because it assumes a burst.
The Phoenix market may indeed burst, meaning a median home price decline of 15% or more. But it doesn’t look like it will be in 2007 and that gives the market at least a year to digest the price increases of 2004 and 2005. If the economy stays strong through 2008, we’re probably out of the woods.
Todd Tarson 09.21.06 at 4:34 pm
John, that was a great radio production. Cool that you got to be a part of that. I read through the chat/blog or whatever it was called. Good stuff.
John L. Wake 09.21.06 at 5:05 pm
Todd,
I appreciate that. It was fun. I didn’t get much of a bump in visits to the blog , surprisingly. I ran into a friend last night, however, who heard it and my name mentioned several times on the program, so that was great.
The producer sent me an email saying the show was one of the best he’s ever been a part of. So, that’s very nice, too.