patrick.net

An average is not the correct way to look at the data. The average is not a good indicator of the whole market. You want to use the median price.
http://www.deptofnumbers.com/asking-prices/arizona/phoenix/

The average price chart at the start of this thread shows a bottom in March '09 (which clearly didn't occur) and then a 2nd bottom in Sept of last year.

When you look at the median data you see the current bottom starts in Jan '11 and coincides with the number of available homes decreasing on the chart below it. (which makes sense given supply and demand)

That's my 2 cents on that subject.

One other thought. When interest rates eventually increase, won't that mean we'll have yet another housing bottom because most people buy a house based on the monthly payment and not the amount?

patjohn97123 says

One other thought. When interest rates eventually increase, won't that mean we'll have yet another housing bottom because most people buy a house based on the monthly payment and not the amount?

Historically, that's not what has happened.

robertoaribas says

RentingForHalfTheCost says

Don't say you haven't been warned when you are forced to chew your own arm off for food because of your cash flow problem.

I certainly appreciate the advice, but actually I am a vegan. I eat fruits, vegetables, beans and whole grains only... No meat, no dairy, no eggs, no sugar, flour, or processed food of any sort! I have to keep my mind clear, and live a long long time to enjoy all of my money!

You'll have to live long to get to the end of the 30 year mortgages you own. ;)

I eat what I feel like, and pay only in cash. I'd rather live debt free and die before I become a burden.

RentingForHalfTheCost,

There are many who don't understand: debt free.