September 16, 2007

Is the Great Housing Crash the best thing that could have happened at this point for Phoenix and other bubble towns?

Will The Great Housing Crash make debt-fueled, fake-economy towns like Scottsdale Arizona inhabitable again? (you know, after all the con-men, idiot realtors, coke-heads, slimy mortgage brokers, $30,000 millionaires (hat-tip dirtyscottsdale for the photo), illegal immigrants and nouveau riche consumerholics go away?

Phoenix has a great canvas to work with. So do Miami, San Diego and even Vegas. Kinda. But if they don't kick out the REIC garbage, and find something real and lasting on which to base their economies, they'll continue to slide into the gutter.

The REIC and the housing bubble are ruining Arizona. Here's hoping the Great Housing Crash gets it back on the right track.

Arizona gets an 'F' for financial prosperity

Got money problems? If so, you have plenty of company.

Arizonans are having a harder time achieving financial success than Americans generally, according to a new report that gives the state an “F” for financial prosperity.

The study by the Corporation for Enterprise Development ranks the 50 states and the District of Columbia on 46 measures that reflect asset building, business development, health insurance, homeownership and the like.

The CFED said Arizonans struggle with high debt burdens, ranking 49th (of a possible 51) for subprime loans, 38th for credit-card balances and 47th for installment debt. Nor are Arizonans well-protected from potential catastrophies, with the state ranking 45th for employer-sponsored health insurance and 47th for uninsured low-income children.

39 comments:

Anonymous said...

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Perfect picture of a Scottsdale tool

Anonymous said...

"Hi, this is your mortgage broker Bob. Yes, we can still get you into that liar's loan, but we gotta hurry!"

Anonymous said...

I look forward to the moment when President Hillary Clinton will utilize Bush's 'executive signing orders' to declare all of those unsold new subdivisions as HUD Section 8 Housing so that I can go on welfare.

Work has never really been practical for most of us anyway since we ended up in debt by working!

For the next 30 years, welfare will become more socially acceptable and practical.

SCREW THE RICH!!

sweet potato said...

I’m wondering if it’s got something to do with the warm weather.
Someone once pointed out to me that all countries located on ore near the equator are poor.
Maybe the warm weather makes people lazy?
Think about Miami, SO Cal, Vegas, and Arizona. hmmmm

Anonymous said...

Scottsdale tool ordering gel by the 50 gallon drum.

michael said...

is that that annoying carpenter dude from that design show?

Anonymous said...

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Nice do......dipsh*t!




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Anonymous said...

Things are already improving here. I have seen a noticeable lack of Illegals in the supermarkets (I guess Jan 1 is coming soon). I also have seen less of the "plastic people" in the Scottsdale hangouts. I have seen a lot of the older "old money" around again. Like you said, it seems that the wanna be REIC trash has moved on to greener pastures, or are now going back to their old line of work in the fast food and bartending industries. I am also starting to think that some of the housing hype is waning. Anecdotely anyway. For sale signs (at least in my neighborhood) are starting to get those little sold signs again, and a few less open houses. I think that people may be selling homes at reasonable prices again, and so many of the bad Realtors have gone tits up, that now the only ones left are the smart ones that have been doing it well for years. I also love how most of the mortgage brokers have gone under, and people now have to go back to the bank to get a normal loan.

It just looks like things may be returning back to some normalcy again, and like any other harsh change, it tends to clean out the rif raf. Hopefully it continues, because this (Phoenix) really is a nice place to live. Definitely beats shoveling snow, and people are generally friendly.

Anonymous said...

3:30...please kill yourself.

Anonymous said...

That picture is C L A S S I C !

I actually knew a guy who looked just like that idiot when I lived in Newport Beach, CA. Last time I saw him he'd given up on being a commercial real estate broker, and was going into residential mortgage. He's probably living in AZ now.

pwnd

Anonymous said...

Ha Ha Ha --- When you look at the report, the only factor keeping Arizona from being dead last overall is that it gets an "A" for having a high rate of homeownership.

No mystery how it'll look 18 months from now after the tsunami of resets hit.

So long, farewell, auf Wiedersehen, goodbye...

Anonymous said...

We should throw all the rich people in prison and give their belongings to the poor and disenfranchised African Americans and Hispanics.

Anonymous said...

I want my free stuff so I am voting for Hillarycare

Anonymous said...

"It just looks like things may be returning back to some normalcy again, and like any other harsh change, it tends to clean out the rif raf. Hopefully it continues, because this (Phoenix) really is a nice place to live. Definitely beats shoveling snow, and people are generally friendly."
What a bunch of BS .Phoenix and surrounding cities are still to be hit with a huge price drop in Real Estate.Things aren't normal and will soon get even worse as the construction industry slows and jobs disappear.

Anonymous said...

sweet potato said...
I’m wondering if it’s got something to do with the warm weather.
Someone once pointed out to me that all countries located on ore near the equator are poor.
Maybe the warm weather makes people lazy?
Think about Miami, SO Cal, Vegas, and Arizona. hmmmm

September 16, 2007 4:20 PM


==================================

Yeah in the ghettoes of NYC, Chicago and Buffalo people work 70 hr weeks.

Idiot.

Anonymous said...

I think Detroit, New Orleans, Atlanta, Newark, Cleveland and a few other cities are much worse. OTOH when I was driving through Arizona during a vacation, I didn't bother to stop in Phoenix. All I saw were strip malls and tracts of faux Spanish style McMansions.

matt leinart said...

Some of the areas in phoenix are still way over priced but on the outskirts prices have correted nicely.It will slowly work its way inward.If I had some bucks I would definitely buy in certain areas here.Scottsdale is a joke.Bunch of tweekers and deadbeats hanging out looking for their next big break.Iron mike is hireing bodyguards somewhere over there.Jenna is looking for porn stars for all you realtor trolls looking for work.

Anonymous said...

prices have way exceeded that which the quality of life deserves and thus made it doubly worse..

Anonymous said...

The study by the Corporation for Enterprise Development ranks the 50 states and the District of Columbia on 46 measures that reflect asset building, business development, health insurance, homeownership and the like.

Arizona joined four other states — Arkansas, Louisiana, Nevada and Texas — at the bottom.

Ten states, primarily in New England and the Midwest, notched “A” grades.


Gee, any red-state blue-state correlation there?

Think about obesity, divorce rate, education?

Top Two ("all A's): Massachusetts, Minnesota
(most liberal New England and midwest states)

Next group: Colorado, Connecticut, New Jersey, Virginia, Wisconsin

Only Virginia is conservative, and that's changing very fast.

Anonymous said...

I have noticed in N Scottsdale in 2007 for the first time since 2001 that there are alot less high-end cars along Shea Blvd. However, house prices are even MORE insane than in 2005!!!!!

Anonymous said...

Well, lets see.

Our business in AZ is booming. The last 2 quarters have been our best ever.

We have 58 employees.

Median income: 58K.

Business: Wholesale PVF/MT/Safety products. Catering to Industrial infrastructure, Power plant Maintenance, Light Rail, Energy Mid stream and transmission, Utilities.


Health insurance: Paid by employer 95%.

Education. 4% PHD. 8% MBA.
24% BA.

Inventory 4.6M.

Customer base 452 active.

Debt Ratio 16%.

DSO 34 days.

Forecast: Thriving, with 12-15% increase in next 3 years.

Illegal Criminal border crossers do not qualify for hire, none known.

We are not tied directly to real estate, except where power generation is concerned. Because it is so hot in the area, the hotter it gets, the better our business does. Imagine the HVAC requirements for 4 million people when we have had 34 days over 110 degrees in the last 2-1/2 months and the mean temp is 108.

We are having difficulty filling new positions with qualified staff.
We have had a rash of new applicants who were former real estate agents, loan officers and brokers, but most of them do not have the product knowledge skill set and are relatively useless.

What I do find is that Arizona natives have an elevated work ethic compared to the applicants I have had from California, Nevada and other parts west and are much better prepared to face the fierce summer onslaught of heat.

The valley in general has experienced the fastest growing population in the nation over the last 15 years. We do get rift raft and illegals by the score, transients who have lost hope in other places only to find employment here. We are a young population in search of a cultural identity.

It is difficult to educate children in this atmosphere of new arrivals, especially when a great percentage of those children are kids of illegal criminal border crossers and speak no English.

Insurance rates take time to catch up to the influx.

As for Scottsdale, a ride through town always amazes me to the cleanliness and wealth. The abundance of major golf destinations alone is staggering. Add in the millions of sq ft of retail and resort locations and you will understand why we need new people to support the industries. Those jobs are not highly skilled and that is evidence why our overall financial, educational and health care stats are skewed.

We have jobs, but in general they are not dependant upon advanced education.

The industries that do demand highly skilled people like our business have fared very well but the pool of qualified applicants is relatively small.

Mark in San Diego said...

Of course the nice thing about San Diego is that all of those REIC employees can go back to the strip clubs near the Marine Base (both Camp Pendelton and the Recruitment and Training Center)where most came from. . .being a lapdancer or a bartender were not bad paying jobs, and there are always new Marines and Navy guys in town. . .actually I liked San Diego years ago when it WAS a Navy/Marine town. . .much more honest than trying to pretend you are "Paradise by the Sea" if you can believe THAT civic motto.

Anonymous said...


Gee, any red-state blue-state correlation there?


I notice blue states have the most ridiculous home wishing prices (California, NY, Mass). Blue cities like Detroit, Compton, Cleveland, Newark and DC also have the highest crime/murder rates, drug abuse and unemployment.

Anonymous said...

I notice the liberal areas are losing population the fastest. Boston and SF are trying to figure out why young college educated people are fleeing.

The worst and most corrupt cities in the country are Democrat strongholds:
Detroit
Bronx
New Orleans
Cleveland
Newark
Compton
East St Louis
Youngstown

The average lifespan is also the shortest in those cities as well as very high dropout and teen pregnancy rates. Oh my!

atkins said...

That is one RAD looking dude

Anonymous said...

"Fot the next thirty years,welfare will become more socially acceptable.."

I totally agree, because free market economics has proven to be a total disaster in the last 25 years:

Crime rates have soared.
Homelessness has soared.
'Outsourcing' of the highly educated to low income status.
Debts and deficits have soared.
FORECLOSURES NOW SOARING.
Less than 10% enjoying the fruits of free market economics,etc.
The need for war and its destructive effects to 'inflate' a deflating economy.(GREENSPAN HAS ADMITTED IN HIS NEW BOOK THAT THE WAR IN IRAQ IS REALLY ABOUT OIL.[DRUDGE REPORT]).

At least with welfare, the crime rate and homeless rate diminishes,and 'redistribution' of money via "taxing the rich" guarantees jobs in industries such as food,healthcare,waste and water management,etc.

Oh do'nt fret you free marketers.You have had your moment in the sun at the expense of the struggling poor,so therefore it is high time to take you to the cleaners via 'punishing taxes' since the "trickle down effect" was more like a drought. Your supporters are dwindling in number exponentially everyday.

AMERICAN NEO-BOLSHEVIK

Frank@NeverColdCall.com said...

Ha, perfect picture of a Scottsdale D-Bag!

Seriously though, if I were ever to live in Arizona again (hopefully not) it'd be in the north-central corridor of Phoenix, or possibly even downtown once it builds up more. Those areas actually have a soul and a sense of community and real people who are doing something with their lives, not the mindless Scottsdale clones like that d-bag in the picture and the identical clone women they date.

I'd say write Scottsdale off completely and stick with the livable areas of Phoenix metro like north-central, downtown, Arcadia, etc.

Frank@NeverColdCall.com said...

We should throw all the rich people in prison and give their belongings to the poor and disenfranchised African Americans and Hispanics.

I'm assuming you're being sarcastic but in case you're not, throwing the rich in prison or otherwise shutting them down shuts down the entire world.

No business = no jobs = no income taxes = no mone for welfare for the lazy freeloaders.

Read Atlas Shrugged, dude.

Anonymous said...


Oh do'nt fret you free marketers.You have had your moment in the sun at the expense of the struggling poor,so therefore it is high time to take you to the cleaners via 'punishing taxes' since the "trickle down effect" was more like a drought. Your supporters are dwindling in number exponentially everyday.


Agreed, but the Dems need to support someone like John Edwards rather than Hillary. Hillary is part of the elite who does not identify with the struggles of middle-class America evidenced by the fact she supports outsourcing IT jobs to India. She is also a racist and an anti-Semite.

Anonymous said...

Does the window behind him advertise:

Facials
Nails
Eyebrows
Waxing

Shakster said...

A false flag Terrorist event would be pretty OK.

Anonymous said...

is that that annoying carpenter dude from that design show?

LOL. I wondered myself.

Anonymous said...

I bet those jeans cost $200 just to look like that.

Sucker.

Anonymous said...

But if they don't kick out the REIC garbage, and find something real and lasting on which to base their economies

Buh, buh...if they do that, who's going to do lap dances for me every Friday?

Anonymous said...


At least with welfare, the crime rate and homeless rate diminishes,and 'redistribution' of money via "taxing the rich" guarantees jobs in industries such as food,healthcare,waste and water management,etc.


I see it's done wonders for North Korea and Cuba. It's still a mystery why the Soviet Union and Eastern Bloc governments collapsed.

Why don't you retards go live in North Korea for 10 years and then tell us how wonderful it is over there. Better yet, go start up a commune and practice your neo-bullshitvik with each other.

TM said...

What I do find is that Arizona natives have an elevated work ethic...

Meth will do that for you.

girl in heat said...

That dude is so hot. Is he a realtor? Or a mortgage broker!!!

yaya said...


John Edwards rather than Hillary. Hillary is part of the elite who does not identify with the struggles of middle-class America


Ambulance chasing lawyer John Edwards in his 30,000sf mansion and $400 haircuts identifies with middle class America

Silvia said...

is that annoying officer dude from that design show in Miami Beach?