[mEDITate-OR:
think that all good things will come to an end....
As one of the worst, sand states, AZ leads the nation...
in getting into trouble, into falling deeper into the cesspool, and in how far it will be to crawl back out.
The first article suggests that AZ's unemployment rate is up, but not that high.
However, IF you compare the number of people "employed", as opposed to UI claims...
you see a very different picture.
While Sherrif Joe A-rap-a-HO might claim to have driven the ill-legal im-me-grunts out of Arid-zone-Ah...
that is not quite true..., it's the economy, stupid...
Almost ALL construction jobs were low paid Mexican laborers. Some may have been here legally, too.
They are now almost all gone. Who, in Hell - aka Arid-zone-Ah - really knows...???
The Second article suggests that while this is true for almost all of U.S...
it is even more true for the sand states - in worse order = Nev, Az, Cal and Fla.
As Jim at Calculated Risk keeps reminding U.S....
almost no body knows anything about the condo numbers...
not how may are available for sale, OR for rent...
how many are really "occupied", or foreclosed on...
for example, if a condo project is 1/3 sold, 1/3 rented and 1/3 empty...
and the lender/bank forecloses on the project...
how may "foreclosures" are there, really...?
and how many units ARE there "for sale"...
the ones rented..., the ones sitting empty...
and how about the ones sold at the peek of the market???
The third article is important to AZ maybe more than elsewhere, other than Dallas...
bcuz, around Phoenix everything is spread way out there...
long commutes were the norm..., to expensive home in the desert...
While this may not affect who can "qualify" for a RE mortgage...
it sure in Hell - aka, here - affects who can afford to buy out there.
The fourth only confirms that even if they are not telling any of U.S. in AZ how bad it really is...
it is worse than it has ever been..., and it is NOT getting better.
no new jobs and lots more people let go.
IF the sales tax increase is not approved, there will be even more massive layoffs...
now including police and fire, along with far to many teachers.
Boogglely.
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Arizona unemployment rate up slightly
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Foreclosure rates surge, biggest jump in 5 years
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Gas prices in Ariz. reach 17-month high
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Arizona's jobless rate worst since 1983
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