forget that when U elected W, he promised U an "ownership society"...
that was then, this is now.
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Four factoids:
First, both Loss Vegas and Phoenix are still no 1 & 2 for foreclosures.
Second, both Lost Vegas and Phoenix are still no 1 & 2 for price declines this year.
Third, both Lost Vegas and Phoenix have the highest - 1st N 2nd loss of home equity among US.
and Fourth from this chart
Lost Vegas and Phoenix have the lowest "owner occupant buyers" of ALL the worst hit sand states
- with one notable exception, Detroit, Michigan.
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Someone once said that you are know by the company you keep.
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The median price paid on Phoenix homes sold in October fell to $120,000,
down 6.8% the year before.
Prices in Phoenix stand 54.6% below the peak in June 2006
when the median price was $264,100.
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Phoenix foreclosures drop to lowest level since 2008
http://www.housingwire.com/2011/12/02/phoenix-foreclosures-drop-to-lowest-level-since-2008
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REO investors squeezing out owner-occupants
http://www.housingwire.com/2011/12/02/reo-investors-squeezing-out-owner-occupants
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