Housing market at center of mortgage crisis is blooming again

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Want a sign of economic hope? Look to a place where the housing collapse began: Phoenix, Arizona.

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who would have thought?
and the house next door to me may have been bought - it's been empty since bush was in office
 
News Feed said:
Want a sign of economic hope? Look to a place where the housing collapse began: Phoenix, Arizona.

0QHWccODrEc


Continue reading...
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We've been getting one of these stories every month since the crash started in late 2006. The only thing that will stabilize the housing market eventually is inflation.
 
We've been getting one of these stories every month since the crash started in late 2006. The only thing that will stabilize the housing market eventually is inflation.
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This. Plus enough people with enough money to buy the houses. The only the housing market will begin an honest recovery is with both of these. Without them, it'll just be another quick bust. I don't know about Phoenix... But in the mid-west, the biggest problem is that there's no one to buy the houses.
 
I think half of Winnipeg bought property in Phoenix in the last few years.
 
cecilia said:
winter vacation homes?
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Exactly. My in-laws own a condo with a pool in Phoenix as a second home. I've yet to go, mostly because Phoenix just doesn't seem all that interesting to me (no mountains, no ocean, what's the point?). But ya, one day we'll have to make use of it and see what the fuss is all about. Maybe drive to Vegas or something.
 
Glaucus said:
Exactly. My in-laws own a condo with a pool in Phoenix as a second home. I've yet to go, mostly because Phoenix just doesn't seem all that interesting to me (no mountains, no ocean, what's the point?). But ya, one day we'll have to make use of it and see what the fuss is all about. Maybe drive to Vegas or something.
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I haven't been to Phoenix in many years - my recollection is that it's HOT. in the summer when I went it actually sucks the moisture out of your body.

aside from that, it's pretty at night.
 
Now if Phoenix would round up the illegals just think how the open housing market would allow us all to buy a summer home for pennies on the dollar.
 
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