So we all know by now that Phoenix Arizona is one of the worst real estate markets in the world. Right? So let's see what the realtors have to say

I love taking a random run around realtytimes. You can really get a sense of the kind of person who ends up selling used houses there. Not a lot of intellectual firepower to be found among the six-percenters..

So here's what the ramen eaters have to say about housing-crash-central Phoenix today:

Exhibit A: The city of Phoenix has had one of Arizona's highest real estate appreciation rates for the last 5-6 years. This area is still experiencing a good market.

Exhibit B: One of the most sought after cities in the nation; Phoenix is beautiful, diverse & affordable! Even with the turn of the market, Phoenix invites hundreds of people that move here daily! With some homes under $100,000!!! the average new home price (2007-2008) in Phoenix is $330,000! There are many affluent areas in Phoenix where homes are well over $1Million!

Exhibit C: We will be offering several Limo Foreclosure Tours, open to 16 buyers and/or investors; not currently working with a Realtor, interested in viewing between 20 - 30 homes that are bank/lender owned foreclosures in the comfort of a Limousine.

Exhibit D: It's a good time to buy a home in Chandler Arizona. Home prices in the city have stabilized after 2 years of tremendous appreciation (50%-60%.).

Exhibit E: The Real Estate Market is showing signs of life again!

Exhibit F (just for Frank): While other parts of the valley seem to be seeing the reduction of prices. Scottsdale properties are holding their value. If looking for a property that fits the lifestyle and at the same time in a location that holds it's value Scottsdale is the place to be

A record 58,257 Phoenix bag-holders (aka "Desperate Homedebtors") are wondering today "where did all the buyers go"

Ah, a classic and inevitable end of a grand Ponzi Scheme is now unfolding in Phoenix. A sight to behold HP'ers. Textbook.

Phoenix, bottom line, you're screwed. Sorry to say. But it was your own doing.

50% appreciation in 2005? What a joke. Your fake economy was built on the back of a corrupt and out of control REIC, your homes are not worth 100% more than they were just a few years ago, and now your economy will collapse due to out of control mortgage fraud, massive REIC layoffs, out of control illegal immigration, and basic human greed.

Good luck out there Phoenix. You're gonna need it.