Thursday, April 9, 2009

Phoenix Real Estate - Recovery Imminent?

The media’s buzzing lately about how the housing market just might be, wait for it . . . At Bottom. Or Close To The Bottom.

Real estate blogs are all over the story too with local statistics, charts, graphs and surmises. The local mainstream media has finally tired of the gloomy news. Heck, even NPR radio got in on the act with a story that “the [housing] market may be headed for an upswing.”

On the other hand, my partner Chris Butterworth just posted a big fat “Not So Fast” the other day.

All this has left me wondering: when does media buzz become an echo chamber? If enough people speculate about The Recovery at the same time, will that create a recovery?

Consumer confidence is a funny thing. It’s hard to wrap your hands around because it’s the ultimate mash-up. It’s touchy-feely and in reality is just a bunch of Tim Taylors and Wilsons talking to each other over the backyard fence about How Things Are Going

On the other hand, the federal government has found a way to measure consumer confidence and in true government fashion has given it a handy acronym, the CCI.

I’ve been wondering lately if we will all collectively create The Great Housing Recovery of 2009 just because we reached a critical mass of people talking about The Great Deal they just bought or just missed.

Maybe consumer confidence is just dominos.

Still feeling glumly contrarian? Check out Chris’s posts, he’s generally more conservative and is charty-graphy where I am touchy-feely. Or visit with the Eeyores over at Housing Doom; they’re still raining on everyone’s parade.