Man, $75,000 in a matter of months, that's just brutal... No matter how the Arizona Republic's Rolodex-of-Realtors Catherine Reagor (she's still employed?), Phoenix realtors on commission or RL Brown wants to spin it.
If you listened to the new-home-ad-supported Arizona Republic or Reagor's always-good-for-a-quote realtor buddies these past few years and stupidly bought a new home in Phoenix, you simply got destroyed.
Here's the latest from Housing Ponzi Scheme Ground Zero, Phoenix Arizona:
Valley new-home permits dip during Feb.
Home-building was down 64 percent from a year earlier, and sales were off by 38 percent.
New-home building permits and sales across the Valley both dropped slightly in February, according to RL Brown's Phoenix Housing Market Letter. Brown said the continued slowing in permits and sales is expected as builders sell off existing speculatively built homes.
The median new-home price in the Valley fell to $225,000 last month, compared with $231,000 in January. In 2006, the Valley's median price hit $300,000.
And here again are the immortal words of a ramen-eating Phoenix six-percenter, the most discredited realtor in America who is still allowed to pollute the Arizona Republic, who has yet to admit to how horribly wrong he was or apologize to HP'ers, Phoenicians or his former clients.
The BubbleBloggers will someday bawl balefully in private, but they will never, ever admit that they have been very publicly very foolish.
You will know and I will know and in the secret chambers of their hearts they will know they were wrong all along. But as long as you don't hold your breath waiting for that contrite admission of error, you should be fine.