Quote:
Originally Posted by Jets4Life
Phoenix????
Are you sure that's not a mistake? Phoenix is one of the fastest growing cities in North America.
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I have seen pictures from Phoenix that look a lot like the pictures from Detroit. The real estate prices give you a better idea of the situation. You have the cities in the rust belt such as Detroit, Pittsburgh, Buffalo, and Cleveland etc. etc. and you have the cities in the sun belt such as San Diego, Miami, Phoenix etc. etc. The picture remains the same and you can pick up cheap real estate in any of these cities. Just ask Youtube
Phoenix was one of the hardest hit by the sub-prime mortgage crisis. In early 2009 the median home price was $150,000 down from its peak of $262,000 in recent years. I agree that Phoenix will not decline going forward in the same way that rust belt type cities will and I put it in the wrong grouping as sun belt cities are obviously much more desirable than rust belt cities but the pictures from the recent fall out are very similar.