Here’s an old post of mine from 5 years ago, September 2006.
In the last few days I heard someone on TV (don’t remember who or where) say something along the lines of, ‘When you see a TV show called “Flip This House” you know the boom is over.’
Is it true?
It turns out that “Flip This House” premiered on July 24, 2005.
That’s right when the boom ended!
The median home price in metro Phoenix, Arizona in August 2005 was $255,5000. Last month, August 2006, the median price was pretty much the same at $254,900.
Does that mean when they cancel “Flip This House” it’s a signal to buy real estate?
Or, at least, if you ever see a show called “Foreclose It!” you’ll know the market’s already bottomed out and started rebounding.
STOP THE PRESSES!
I just remembered hearing that someone is filming a reality show right now about the foreclosure auctions in Phoenix!
Found it! It will be called “Betting the House” not “Foreclose It!”. “Reality TV taps Phoenix-area foreclosures”
That sounds like a huge flashing BUY signal.