Nah, there was no laughable housing bubble in Phoenix. It's quite natural for houses to be worth 52% more than they were a year ago.
Nah, there was no debt-fueled speculative housing gold rush in Phoenix. It was just the pent up demand from the 1800's, and finally people were able to move west.
No, it was just a "new paradigm", where everyone suddenly thought it would be great to live in 120 degree weather. No, I know, it's because there's no developable land in Phoenix (the largest metropolitan area in the country).
Looking back it is just so laughable, so lunatic, and so perfect-ponzi-scheme. Phoenix, HP'ers, is housing bubble ground zero. The pets.com of the housing mania. Watch now as hundreds of thousands of people leave Phoenix. Why? Because outside of homebuilding, home selling and home furnishing, there ain't many real jobs in ol' Phoenix.
PHOENIX: Until recently, this fast-growing area was a paradise on earth for home builders. Fulton Homes' developments, for example, were so popular last year that it was able to raise prices on its new homes by $1,000 to $10,000 almost every week.
"People were standing in line for lotteries" recalled Douglas S. Fulton, president of the company, one of the largest private builders in the Phoenix area. And they were camping overnight begging to be the next number in the next lot in the next house.
No more.
Today, it is the company's sales agents that do most of the waiting. Not only are there few new customers to talk to, but many buyers who put down a deposit are not even bothering to come back for the walk-through.
"All of a sudden, they just don't show up," Mr. Fulton said, noting that such cancellations often mean the buyers forfeit as much as 5 percent of the price. The reason? The prospective buyers got cold feet or simply could not sell their old home.
The striking contrast tells the tale of a housing bonanza turned bust. Today, the number of unsold homes in the area has soared to almost 46,000 from just a few thousand in early 2005. And builders are pulling back as fast as they can.
They have little choice. Sales cancellations among big builders, not just here but around the country, are running as high as 40 percent, double the rate a year ago.
The reversal in fortune is at its starkest here in the West. For-sale signs in some new subdivisions are so common that Janet L. Yellen, the president of the Federal Reserve Bank of San Francisco, recently described them as "the new ghost towns of the West."
November 07, 2006
Phoenix housing crash makes the New York Times. Has it come to this? Is now the time we all point and laugh?
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My neighborhood is an example of the ARM sucker madness. The people just down from me vanished. POOF ! Everyone wondering where they took off to. Now just foreclosure home sits there.
Another is trying to sell the same home they bought in March this year for 160K. Now Demand 180K. So far just one offer for 150K. Problem is , they left too and are living in a brand new home and were very confident this would sell. I estimate they will walk away from that new dream property and move back across the street very soon.I think we are in the PANIC phase in my neck of the woods.
Phoenix even has its own sock puppet puppy dog in Greg Swann at bloodhound realty.
Love reading this blog it has personality! Remember that song? Lloyd Price I think. Anyway not privy to the Phoenix market is it that many people were looking to Phoenix to retire? or snowbirds? In upstate NY we call retirees living in Florida but keeping their country home for summer retreats snowbirds. The Phoenix numbers are way high and further emphasizes the so called 'bust' has to be looked at locally. Numbers like 40% can't really be accurately applied on a national level because housing is relative to the local environment. In NYC be have high employment and the market is scary quiet but not 'bust.' I think today's elections could turn that because there is so much negativity breeding from this administration. But then all we need is charges of 'tampering' and it will suck the wind out of any euphoria over a Democratic success.
VICTORY????
Not for middle class Gen-Xers like my wife and I... she's a Montessori teacher and I'm an Editor in Chief but we'll probably have to move out of South Florida because prices are still sky high, and the cheapest rent is $900 for a craphole next to a cracker box crack house.
No victories here, just stingy and greedy property owners willing to sit on their property and wait instead of lowering their craphole condo prices. You can't beat greed.
Vegas should be next. Another city in the middle of the desert with unlimited land on which to build and nothing but card-dealing and hooking to bring in the money. Great business model.
If someone doesn't have to move, and bought pre bubble, they can afford to wait. Always try to differentiate between legit sellers and fliptards.
The Thinker Endorses the Republican Ticket:
Why?
(1) They balanced the budget.
(2) They won the war in Iraq.
(3) They stopped North Korea's nuclear ambitions
(4) They spread Democracy to the Middle East
(5) They freed our addiction to foreign oil
(6) They caught Osama
great story on PBS last night about the 49'ers in San Francisco during the gold rush and the effects on everyday people and families of the time. timeless story and I found lots of parallels between today's housing bubble and the gold rush of the time - it even had that day's versions of the NAR head cheerleaders who made tons of profit talking up the bubble and by mining the miners instead of the dirt.
Sam Brannan gold rush cheerleader and merchant
David Learah head cheerleader on housing
same difference
Smug Bastard
Have "they" already hired baghdad bob?
What a bunch of crap this blog is ... The FUC*ER that runs this blog erases messages that he doesnt like. What a pussy!
The NYT article highlights the obvious...that Phoenix is toast, on the fringes. I still cannot understand why people bought homes 40 miles from downtown, in a cotton field, with insufficient infrastructure, i.e. roads.
I live downtown, and track the real estate, especially in 85003 and 85004 zips. The stuff that is priced properly pends almost immediately. The tools that still think their 1400 SF house is worth 650K are sitting and waiting, and waiting.
Growth is elastic, so the growth will slow until the market demands more, and then start up again.
I just read in USA Today that houses in Salt Lake City are selling fast and rising in price.
THe last bubble city?
Thinker, I understand your reasons for voting Republican, and I think they’re good, but I’m a values voter. So, my reasons are.
[1] They are a party free of homosexuals and pedophiles.
[2] They passed a constitutional amendment banning gay marriage.
[3] They put a stop to abortion.
[3] Republicans are incorruptible and have worked tirelessly to remove the influence of money from the political process.
[4] When they tell you something, you know it’s true, especially about important issues such as war and terrorism.
It's his blog, therefore certain rights obtain. Good-bye.
Toll Brothers falls 1.9 pct
http://tinyurl.com/ygkjox
Toll Brothers Inc. (TOL.N: Quote, Profile, Research) fell 1.9 percent before the bell on Tuesday after the company said it expected to report a 10 percent drop in quarterly home building revenue.
Shares in the luxury home builder slid 79 cents to $27.52 from a close of $28.05 on the New York Stock Exchange on Monday.
Nov. 6--HOUSING COLLAPSE WILL RUPTURE U.S. ECONOMY. From 1995 to
2005, Fed chairman Alan Greenspan built up the housing bubble to
such an extent, saturating every pore of the economy, that its
deepening collapse will spread beyond the defined bounds of the
housing sector per se, to pull down the whole economic system.
**Normally, housing would account for 5 to 7% of "GDP
growth," but a study by Merrill Lynch, which EIR is
investigating, documented that during 2001, housing and its
effects, accounted for 24% of GDP "growth," and during 2005,
housing accounted for nearly 50% of GDP "growth." This derived
from not only the home construction, but also from major
financial effects, which through the increase in the wealth
effect--and in particular, cash-out refinancing--provided {more}
than half of all new consumer spending in the economy.
**According to Department of Labor figures, looked at by
EIR, between January 2001 and October 2006, some 653,000 jobs
were attributed directly to residential construction (including
pouring concrete, installing kitchens, etc). But the amount of
job growth that directly depended on housing through production
and/or sale of lumber, concrete, copper, glass, and other
products, could be another 600,000. Then, there are the jobs that
were proliferated in the consumer sector due to the consumer
spending spawned by borrowing against one's home's value, etc.
(Total net job creation during that nearly six years was only
reported at 3 million.)
{Economy.com} reports that during the 1990-91 recession,
which involved a housing collapse, 825,000 housing-related jobs
disappeared. EIR has observed, that during the next year, between
1 and 2 million housing-related jobs could be eliminated, coming
top of the loss of auto, steel, and other jobs. The devastation
of the physical economy would be complete.
Please, please and please, vote for mickey mouse, donald duck, your dead uncle, neighbour's dog, jesus anything but republicans! 2004 was bad enough and this time you will get the hose if those idiots are elected again.
BR,
The Rest of The World.
That article goes on to say the downturn is temporary and things will soon be on the up and up again.
Tuesday, November 07, 2006 3:36:25
==================================
Is this a plug for Viagra?
Yeah, Vegas will be handy for WMD testing when all the papier mache shacks are abandoned. Actually, it would probably be OK to start the tests there right now.
Heh. Vegas. This place is perhaps the most corrupt in the USA. The mayor is a drunken Jewish Bugsy Segal wannabe, who gives contracts to his family. The politicians are rapists, drunks, liars, hypocrites and thieves, the Sheriff is in the local politician's pocket, the new Sheriff lies openly on his resume etc... Crime is out of control (worst in US in same categories), the roads are jammed into gridlock with traffic from the constant influx of idiots.
==================================
Put em in the White House,they seem qualified.
Viagra? What's that, a pill you're on pal?
The point is that many people are saying this "crash" is almost over. It's wishful thinking, in my opinion
==================================
No, it's something that you baby boomers take to rekindle that "wishful thinking".
McMansions are in the future slums of
America, imo.
Your description of Vegas is the same as it has always been!
Business as usual!
You people saying this is a brief event, things will pick up in spring and all the other nonsense need to shut up and review history. Bubbles are never brief, and always last for years. Seeing how stupid homeowners are trying to keep prices high when there is no demand will make it much worse. 5 years minimum, 20 years max, deal with it.
===================================
How long did the Dark Age in Europe last? Because thats where this is headed. Americans think they are spectators but we are all actually actors in this tragedy.
Oh come on!
The time to point and laugh is when the builders and realtors are turning tricks in the street!
Realtors already are!
Realtors alwaya did!
I found it interesting that the Times just discovered the bloated RE inventory in PHX. WTF.
credit bubbles bust relatively fast compared to others. there will be incredible pressure brought to bear on home prices because of default/foreclosure, over building and builders dumping inventory, builder/investment companies going bust and being liquidated, a reluctance of pension fund managers to make "investments" in mortgage backed securities and c.m.o.'s, etc. remember, this is a credit bubble chasing real estate. i don't believe it will unravel overnight but i don't think it will be Japanese style deflation that takes a decade or more - this era of Americans and the Japanese of the 80's have vastly different views of the about what it means to default on a promise or contract.
Smug Bastard
"Little peoplw with big mortgages and bigs ideas of themselves."
That's what Jubilee is for.
Do not worry HP faithful, the Dems will take care of this piffling RE problem. How? They will point a gun at you, take away your hard-earned money, and give it to the "less fortunate", all in excghange for their loyaly and votes. See how easy that is?
Yeah Phoenix, most of mexifornia, along with most of Florida. These places will continue to take a beating. Meanwhile, those of us that don't live in those cesspools continue to chug along, showing just under double digit appreciation for median homes. But, we never saw the 30plus% years either.
"That is still much better than the Republican model:
Don't tax enough, just borrow happily, spend it all on stupid wars/military and let the grandchildren take care of the bill."
Those Birkenstocks look very worn comrade, you should buy a new pair. What's that you say, you can't afford them? Well here is some cash we borrowed from your rich neighbor's bank accounts. Thank me at the voting booth comrade...
I would rather have The Tooth Fairy and Santa Claus running the country as oppose to the midwest, texas white trash running it now...
I can only hope with the Dems in control we can get more exposure as to the size of the corruption that has taken place over the past few years with this administration..is it a wish probably, because both parties are at fault and an utter disgrace.
"Phoenix housing crash makes the New York Times. Has it come to this? Is now the time we all point and laugh?"
It looks as though Phoenix has finally reached the end of its life cycle and will now burn fiercely until it has been reduced to a pile of ashes.
But don't expect Phoenix to rise from its ashes in early 2007, just in time for the spring buying season.
Read this ad from Phoenix.
Don't miss the opportunity to purchase a beautiful Morrison home in prestigious Morrison Ranch, a 2000 acre master planned community! They are entering their final phase of construction and they're offering SPECTACULAR INCENTIVES! Including up to $65,000 to build your dream home and up to $75,000 for an immediate move-in to a beautifully completed inventory home.
With mesmerizing views of the Superstition Mountains in the background, tennis, basketball, the meandering walking trails that sweep past sparkling lakes and never ending seas of lush green, you will find a lifestyle and a home I know you will be proud of for years to come.
1719 SF - 3/2 - $60,000 discount, selling now for $315,526
2010 SF - 3/2 - $70,000 discount, selling now for $325,423
3100 SF - 4/2.5 - $75,000 discount, selling now for $402,604
Compared to re-sale homes in the surrounding area these are fantastic prices. If you haven't looked into Morrison Ranch, you really owe it to yourself to do so.
If you'd like more information please give me a call.
100% FINANCING AVAILABLE FOR 580 CREDIT SCORE OR HIGHER, Sign up below for ALL the homes for sale in your specified area.
What a joke. First, 100% to a credit score of 580? Second, meltdown? I hardly tink $605,000 off a 1719 sq ft house with a discounted price of $315,000 either a bargain or a meltdown (unless you paid $375,000 last year).
$183 a sq ft is a bargain? In 2002 you could buy a 3,000 sq ft house, 3 car, 3 1/2 bath in the west valley with no upgrades for $60 a sq ft and full loaded, upgrades galore, pool, landscape for $100 a sq ft.
Either the cost to build went way up, and so inflation was much higher than we were told, or something is wrong with these numbers. If 46,000 spec homes are out there on top of 56,000 resales and prices haven't dropped lower than that? Buyers may come back at $100 a sq ft loaded but $183 is no discount.
I'm so sick and tired of people that put Vegas down. Hey assholes, if you don't like it, don't come here. In the meantime, thousands of other people do like it ... and they show it with their feet.
After 50 years of putting a death nail into Vegas, you would think the doomer and gloomers would go away. As for us that live here, and love it here ... it's business as usual in America's hottest city.
FO Haters!
I vote we send Bork to Phoenix- We need a janitor to clean up all the sh$$ there.
---------------------
Yup no problem and on my way back Ill drop your wife off, she would speak but at the moment her mouth is full.
Hey anono boy- I got no problem with Vegas, I like it there. What I have a problem with is the damn builders out there. They ruined the place with their greed. Now the locals can;t even buy ahouse for their family. But just wait every month the price is dropping.
As my name indicates I am the dominant one on top. You are the lady.
--------------------
I am the dominant one:
This guy must be a Defrocked priest or something sorry to bust you bubble there Paul Shanley, but umm alter boy was never my thing.
Now run along I here the Scouts calling.
Hey anono boy- I got no problem with Vegas, I like it there. What I have a problem with is the damn builders out there.
Then don't move here!
Now the locals can;t even buy ahouse for their family.
WTF are you talking about? Let's examine your remark. A new Zip Code in Vegas is 89138 (Summerlin) were there are only new homes with new buyers. The medium home price is about 500k which is high, however the average income in that zip code is 120k a year. That's a 4 to 1 ratio.
I don't care about your opinion of the "locals" ... the only thing that matters is people that make a lot of money continue to migrate there.
Deal with it!
Hey anon boy- Go ahead buy some houses in Summerlin for 500K let's see who is laughing in 2 years, or is it that you don't have the balls?
Yeah baby- Those brain dead individuals still think Vegas and Phoenix are still going to go up****
HAHAHHAHAHAHAHAHHAHAHHAHAHAHHAHAHAHAHA
Don't think so!!!!!!!!!
Hey anon boy- Go ahead buy some houses in Summerlin for 500K let's see who is laughing in 2 years, or is it that you don't have the balls?
Another doom prediction for Vegas. LOL People have been saying that about this town for decades. Prices may drop a little here, but it ain't going to be anything like PHX or SoCal. Not even close!
We'll see ... we'll see!
Hey anono boy- Yeah I agree with you that Phoenix and So CAL is going to get nailed. But Vegas is not exempt. This was the original ground zero of speculators. Like dealers and CAlifornia people bying 7 houses and flipping them. Guess what there are not many idiots left to sell to. GAME OVER.
Some anonoweenie said...
....No victories here, just stingy and greedy property owners willing to sit on their property and wait instead of lowering their craphole condo prices........
What? To make your life easier.
Jesus, why don't you go whine somewhere else!
I have nothing against other people going to Vegas. If that's what you like then more power to you. I just don't see the fundamentals justifying the house prices there. I look at supply and demand, the relationship between average home prices and average rents and average incomes.
Just like Phoenix, a speculative mindset inflated the price of homes in Vegas far beyond what is justified by fundamentals. The price of homes in Vegas is due for a significant decline. So maybe it wasn't such a great idea to gamble away your heloc at the blackjack table, huh, speedbag?
Hey Paul E MATH-
Absolutely, all things have to come back down to reality and price justification. SO CAL is so distorted it will take at least 24 months to come to reality.
In Summerlin today I can buy a 4BED house w 3 baths for $370K, I know that is much lower than last year. So we have already seen with your example. The desperate people will destroy most all of the markets.
anon from Tuesday, November 07, 2006 1:38:54 PM said;
>>VICTORY????
Not for middle class Gen-Xers like my wife and I... she's a Montessori teacher and I'm an Editor in Chief but we'll probably have to move out of South Florida because prices are still sky high, and the cheapest rent is $900 for a craphole next to a cracker box crack house.<<
Forget about OC on the left coast then. Crapholes start at $1400 in Irvine (and that's just for a Studio)....
Forget about price reductions, what if, no wait, WHEN! we have the great credit crunch that is coming who is going to be able to fill all that unused inventory when yu will not qualify for a loan ??? these are corporate numbers, forget personal credit history's those are well history, with all the foreclosures, we are talking 7 years back luck on the backs of consumers I dont care where you live.
* U.S. corporate credit quality has been on a 25-year decline toward junk status
* Almost half of all companies now rated below investment grade
* Liquid financial markets, downgrades in the auto and airline sectors, a spate of takeovers and global competition have contributed to the credit quality erosion.
* "An aggressive financial posture is necessary for survival in a stiff globally competitive environment."
* "The same dynamics are unfolding in Europe, albeit at a slower pace."
* As of September, junk, or speculative-rated issuers, defined as those rated "BB-plus" or below, stood at a record high of 49 percent, up from 48 percent at the end of 2005 and a low of 28 percent in 1992.
* "AAA" ratings dropped to 18 from a peak of 24 in 1998.
* The default rate could exceed 15 percent, the highest since the Great Depression, if the economy goes into a recession, according to Martin Fridson, publisher of independent research service Leverage World.
* Shareholder-friendly activity, such as share buybacks, restructurings and leveraged buyouts, have all increased debt burdens and lowered credit quality.
* High risk tolerance by investors has also attracted more speculative grade issuers to the bond market.
* 61 percent of all newcomers to the bond market had ratings at the "B" level, a mid-level junk considered highly speculative.
* "B" is now the largest rating category, making up 27 percent of all issuers.
* The investment-grade universe, meanwhile, is now dominated by financial institutions, "as mergers and acquisitions have created enormous financial entities with huge funding appetites"
Las Vegas is a dump and refuge for marginal half-breeds who can't make it anywhere else. Similar to the ignorant genetic mutants migrating to Arizona, this is bottom-of-the-barrel transient
flotsam.
Las Vegas= Palookaville=one way ticket to Nowhere.
Las Vegas is a dump and refuge for marginal half-breeds who can't make it anywhere else. Similar to the ignorant genetic mutants migrating to Arizona, this is bottom-of-the-barrel transient
flotsam.
Las Vegas= Palookaville=one way ticket to Nowhere.
------------------
Ya but the Meth-Labs are state of the art.
Do not worry HP faithful, the Dems will take care of this piffling RE problem. How? They will point a gun at you, take away your hard-earned money, and give it to the "less fortunate", all in excghange for their loyaly and votes. See how easy that is?
At least the money will be spent in America by Americans and may help pump up our economy instead of being buried in the sand in Iraq.
>>At least the money will be spent in America by Americans and may help pump up our economy instead of being buried in the sand in Iraq.<<
AMEN!!!!!!
Good! Next stop is San Diego! Bring on the crash!
Why do people here always have to bash cities as "hell"?
Every place has good and bad areas to live, even places like Lubbock, Tx.
Vegas? I had a lot of AF friends in the 80s who couldn't give their houses away when they got transfered due to the high interest rates and recession. Still, Vegas is different today. Much larger, much richer, more jobs, and a lot of money. Those Casinos make billions. Also, Vegas is land locked. The land is almost gone. The rest is government land. That is why two years ago developers started buying land across the border in Arizona. Problem? No water and they should NEVER build there. When they run out of land I think that should be a sign that growth "out" should stop. Growth up is their only real option and will use less water. As long as people have money to spend Vegas will draw them. Even when people are desperate and can't afford to gamble they do hoping they'll "win". Prices will come down, the question is how much and for how long.
Phoenix? Recession after recession, home correction after home correction, Phoenix continues to grow. Having lived parts of my adult life in Phoenix since 1982 onwards as the AF moved us around and back, the city grew. Prices went down and then back up higher than before. It is all a BIG CYCLE. I won't be surprised if ten years from now people will look at home prices 2005 and say, WOW, wish I had bought then. If you buy long term it doesn't matter if you can afford it in the FIRST PLACE. in 1980 people in the subdivision where we bought our first house paid $85,000 for our house. We bought NEW with upgrade incentives for $67,000. Today even if that neighborhood took a 50% haircut you'd pay at least $140,000 to $180,000 depending on location in the division (on or off golf course) and a pool. We sold that house in 1985 for $98,000 and that was back when interest rates were a lot higher than 6.5%.
We all like to think ourselves so smart but in the end we are all captives/hostages to events beyond our control. It is all an illusion. After 30 years of seeing nothing but prices go up and I thought they'd never go higher, they always do. I never believed my grandfather in 1962 when I was 8 that in my lifetime I'd see an average house cost a million in California. He has been dead since 1963 (age 85) and through the depression, WWI and WWII, Korea, he saw the same cycles, up, up, up, down, down, up, up, up, and up, down etc but eachtime the down is higher than the last up.
Actually Vegas is an interesting subject for analysis. Interesting to me, anyway.
Vegas is a focal point for the poker fad which is itself a symptom of the moral decline of Western civilization. The value of hard work and other moral virtues are in decline as we instead reserve our respect for sheisters like Donald Trump and glorified belly-dancers like Britney Spears.
For some reason poker, and gambling in general, is cool right now. But like all fads it will eventually go out of fashion. And with the waning of pokers fortunes will also go the housing market in Vegas.
Who will want to be tainted by association with this mecca of misfits, this symbol uncalculated risk?
I would compare Vegas to Britney Spears in another way too. Sure, I'd still bang her right now. But by the time she's 30 she'll look like Sally Struthers. So, too, will all of Vegas' condo's and McMansions look like faded, oversized, dried-out husks.
fox, you have to be the biggest troll/RE tool on HP to think Phx is going up long-term. Let's see..no plans for water conservation, terrible traffic problems and half a city who can't speak English. The place will be well known for 'WTF happened?' in future history books. Even if the rest of the US dodges a big recession, Phx is still toast. There's not enough intelligent people living there that can save it, either.
Dave s said...
fox, you have to be the biggest troll/RE tool on HP to think Phx is going up long-term. Let's see..no plans for water conservation, terrible traffic problems and half a city who can't speak English. The place will be well known for 'WTF happened?' in future history books. Even if the rest of the US dodges a big recession, Phx is still toast. There's not enough intelligent people living there that can save it, either.
Not a real estate troll. Just a regular guy like everyone else but maybe with a little longer memory than you as I imagine you are much younger than I (I'm 52 now). I've lived through 30 years of watching home prices, cycles, recession, bubbles, and have owned eight homes in my life.
Phoenix has a 200 year supply of water under current conditions. Water use from agriculture is decreasing and wastes more water than homes. The valley is young, not densely populated as LA or other large cities, has a wonderful winter climate, has lots of intelligent people. A little arrogant of you to consider yourself intelligent but those who live in Phoenix as dumb?
There are thousands of teachers, engineers, attorneys, doctors, nurses, technicians, architects, and every type of person who makes up the population of any city or town in the USA or the world. You sound like Kerry calling our troops uneducated or they wouldn't be in Iraq.
Having lived in Phoenix in the past and over a period of 25 years I've sen a lot of changes in Phoenix. The roads are better, the city is consistently voted one of the best run in the country, ASU is a top school, St Joes a top hospital along with Mayo, water useage per capita down, air pollution up, plans on creating more urban density and light rail will help. Talk urban planning? You call LA a plan? Houston? Miami?
Talk about exaggerating about who speaks english. I'm sure the figure is more like 80%. Even a large portion of illegals speak some english. How is your spanish?
I agree with many about Vegas as a one-trick town and if and when gaming goes out of fashion will they have built a viable economy to survive? And they have less land, less water, landlocked, so they make Phoenix look civilized. Something must be right about Phoenix or it wouldn't be the 6th largest in the USA. People vote with their feet.
The city is built on a grid system and makes it very easy to get around without resorting to the hiway.
It has a very dynamic and diversified economy, more so than in the last two recessions. Also when you study the history of the great depression Phoenix actually was a beacon during those hard times of prosperity.
Again, why the bashing? I may not like Baltimore but because I wouldn't live there doesn't mean it doesn't have some redeeming quality and even if it doesn't, if all those folk want to live there, so what? Isn't the point being that we don't want everyone to live in just one place? Do we want LA to turn into San Paulo? Paradise could turn to hell quickly if we all went to live in Santa Barbara no?
If you don't like Phoenix and live there, move! If you are unhappy with your life, change it. If you hate your job or your pay, find a new career. Life is what you make it. If you don't like your friends, find new ones.
During the years I lived there I repeatedly saw people move to Phoenix, bash it, leave, only to come back. They usually say there are lots of things they dislike (summer) but over-all compared to other places it wasn't as bad as they originally thought.
People are people. When I lived in Germany many people I knew wanted to live elsewhere, Spain, London, South Africa, Brazil, USA, Canada, and a lot of the Americans at the Air Base wanted to live in Germany. A friend of our family married an Italian girl from Bellagio. She said she hated Italy and loved the bay area and though the SF bay area and Napa where the most beautiful in the world and had the best opportunities. It's nice (growing up there) but I'd rather livein the Italian alps.
Point is just because you don't like someplace doesn't mean it is hell and even if it was hell if you like the company and the heat, who cares? Each to his own, right? I might dislike peanut butter but that doesn't mean you can't eat as much as you want. More power to you.
I admire those who are happy, content, with what they have and where they live and who they are. In my travels I've always marveled at those individuals who say,"I love it here in Camden ME and love my job as a waitress" and tell you how they lived all over and had good jobs and all but visited a place, found it enchanted them and they'd do anything or live any way to be there.
Find your bliss if you are so unhappy. And could you tell us, where you live?
I'm sorry, but Phoenix is doomed.
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