Monday, September 13, 2010

66%-67% Of Phoenix Homes Underwater? 10 Years Of Inventory

We’ve often seen Jay Butler, head of Realty Studies at ASU, give overly optimistic reports on the state of Phoenix real estate.  That’s why when Butler says that 66%-67% of Phoenix homeowners are underwater, you know it’s bad out there:

Video HERE 
Will things be better any time soon?  Watch what Fannie Mae is now doing to unload homes.  Other lenders will have no choice but to aggressively reduce their inventory as well.  What is that chance that Valley home prices are anywhere close to “stabilized”?
More Here..


  1. everythings under control, for them! i suppose if I drove down hwy 8 and saw signs warning about drug runners etc and our leaders more concerned about how it appears to the UN then enforcing existing law I'd consider the gov had given up AZ and get my kids up and out to, dropping the market if others do so aswell, like detroit once the snow rolls it snowballs. The writings on the wall give it time

    that 3% down is just like 2002, where we came from,...doubt it'll lift the market this time

  2. this is a decline to the bottom
    we will walk right into the fema camps
    you will beg for help

    kissinger had it planned long ago
    nothing to seee here move on please

    american idol is on at the fema trailer

    thanks for coming

    move along


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