Updated Phoenix listing #s - Watch the fun as a market collapses under its own weight

Just saw a few listings - one a loft in Scottsdale selling for $1000 per square foot. That's right. $1000 per square foot. Another a new build in a bad neighborhood in Tempe selling a 2 bedroom for $750,000. On a busy road, next to crack den houses, with planes flying over.

Who's buying this stuff besides investors trying desperately to flip? The rent on that tempe unit would be $2000 or less (likely $1,400). But the cost of ownership would be $5000 or more a month.

Amazing.

Tracking Phoenix/Maricopa & Pinal Counties

Population 2005: 3.8 million
Listing per population ratio 7/20: 1:353
Listing per population ratio 11/10: 1:150

7/20: 10,748
7/30: 11,656
8/10: 13,099
8/20: 14,321
8/30: 15,042
9/10: 16,716
9/20: 17,516
9/30: 18,799
10/10: 20,073
10/20: 21,806
10/30: 23,770
11/10: 25,387
11/11: 25,700
11/15: 26,054
11/18: 26,261