Housing Doom posts the shocking numbers for September (which really aren't so shocking, and they're gonna get worse). A 18 month (at least) supply of homes on the market, and a 46% drop in year over year sales for September.
* But what about all those people moving to Phoenix?
* But what about all those idiot Phoenix realtor bloggers who said there was no housing bubble, and people who thought there was were brown shirts and chicken littles?
* But what about the great and balanced Phoenix economy?
Folks, the housing crash underway in Phoenix and cities around the country (and world) will be the most important financial event of your lifetimes. Cities like Phoenix based their fake economies and budgets on homebuilding, home selling, home furnishing, illegal immigrant labor, property taxes, home improvement and always-increasing home prices.
And then the whole Ponzi Scheme caved in.
Phoenix may one day rise from the housing crash ashes, and rise up as a better place, but watch and bewilder as the greatest housing crash in US history unfolds in Housing-Ponzi-Scheme-Central Phoenix Arizona.