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.