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Phoenix is on Fire!


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2012 May 14, 3:34am   5,184 views  9 comments

by RentingForHalfTheCost   ➕follow (2)   💰tip   ignore  

Doesn't someone around here keep barking about how Phoenix real estate is appreciating? We might already have proof of multi-universes for the string theory folks right on this site.

Below exerpt is taken from this link. Look which area is #2 spot on the list of worst depreciating asset?

http://247wallst.com/2012/05/09/cities-where-home-prices-are-collapsing/3/

2. Phoenix-Mesa-Glendale, Ariz.
> Expected price change: -11.1%
> Unemployment rate: 7.7% (184th highest)
> Change in home prices (2010 Q4 to 2011 Q4): -1.2%

Home prices in the Phoenix-Mesa-Glendale metropolitan area have dropped 56% since their peak in the second quarter of 2006. The region also has been plagued by high foreclosure and delinquency rates since that time. In 2011, home prices fell only 1.2%, but this rate is expected to increase significantly to 11.1% in 2012. The trend is projected to reverse in 2013, with home prices increasing 0.4%.

Read more: Cities Where Home Prices Are Collapsing - 24/7 Wall St. http://247wallst.com/2012/05/09/cities-where-home-prices-are-collapsing/#ixzz1urlSXgcU

#housing

Comments 1 - 9 of 9        Search these comments

1   bubblesitter   2012 May 14, 3:36am  

Roberto,

You have to defend Phoenix with your numbers.

2   freak80   2012 May 14, 4:12am  

Phoenix is in the middle of a desert. Why the heck do people actually live there? Ridiculous.

3   anonymous   2013 May 24, 11:25am  

RentingforHalftheCost is on FIRE!! LOL!

4   RentingForHalfTheCost   2013 May 24, 11:50am  

robertoaribas says

hey call it crazy, renting with half a brain!!!

come back and tell me again how great this prediction was!!!

EXPECTED CHANGE -11%

ACTUAL CHANGE + 25%

Hey either of you dipshits want to speculate why I was right and you were completely wrong?????

You are correct, but not for reason that are sustainable. Good luck going forward. I would collect your chips and convert to cash, but no, GREED kills as always. Let them ride and see how your theories hold up long term. hehe

5   RentingForHalfTheCost   2013 May 24, 11:51am  

SubOink says

RentingforHalftheCost is on FIRE!! LOL!

BTW, I wouldn't live in Phoenix if they gave me the most luxurious house there for free. The place is past dead...

6   JFP   2013 May 24, 2:02pm  

RentingForHalfTheCost says

SubOink says

RentingforHalftheCost is on FIRE!! LOL!

BTW, I wouldn't live in Phoenix if they gave me the most luxurious house there for free. The place is past dead...

Why don't you just go back to lying about your investing record in your own thread?

7   RentingForHalfTheCost   2013 May 24, 2:13pm  

JFP says

RentingForHalfTheCost says

SubOink says

RentingforHalftheCost is on FIRE!! LOL!

BTW, I wouldn't live in Phoenix if they gave me the most luxurious house there for free. The place is past dead...

Why don't you just go back to lying about your investing record in your own thread?

Is that a trumpet playing?

8   RentingForHalfTheCost   2013 May 24, 2:22pm  

robertoaribas says

AND you sound like a whiny punk with stupid things like this, just for once in your life, be a man and say "I was completely wrong."

Sure,

I was completely wrong about Phoenix. The place turned out to be worse than I ever imagined. Homeless and inferno heat is all I remember. And they are the good memories.

9   HydroCabron   2013 May 24, 2:45pm  

freak80 says

Phoenix is in the middle of a desert. Why the heck do people actually live there? Ridiculous.

To quote T.E. Lawrence - as channeled by Peter O'Toole - on the subject of the desert: "It's clean."

Casa Grande is actually nice, in the sense of not being ugly, but the rest of the area should be used for nuclear testing.

To enjoy Phoenix, you need to go inside one of those storage lockers for human beings in the retirement areas south of town. Crank the AC, close all the blinds, so you can't see or hear Phoenix, and it's actually like being on the space station, except with gravity and you can't look out the window at anything resembling planet Earth.

During the heat of the day, if you wander out into the xeriscape back yard, the dry heat is actually invigorating. Be careful when outside not to raise your eyes above the line of the cinder-block fencing, so as not to catch a glimpse of the outside world.

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