Brand New Homes in AZ: Were $215k, Now $137k; Naples, FL - Were $450k, Now $344k

Quote from thriftybob:

No can do. Rates can't go up like in 1980.

Economy is already on fumes, and that would bring it to a complete halt, and throw it into reverse.

Feds owe $9 trillion of adj rate. If rates go to 10% the nation is even more bankrupt than it is now.
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I see correlation between the 70's vs. today.
 
Yes, it is just god awful in Phoenix. Boy, I would rather be in sub-zero temps, 3 ft of snow and shovel the driveway every day.

Everyone please stay away!

Next time you're here take a look at Paradise Valley, Carefree or NE Scottsdale.

Quote from michaelscott:

I have visited Phoenix a few times and the summer is WORST then a northeast winter. You go outside and its so hot that it feels like you are in an oven. Even dressed very lightly with shorts and t-shirt your still drenched in sweat with any activity outside. To make matters worse, where is the jobs? How does one make a living there?

Florida is better, but still, not too many good paying jobs there either.
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Quote from ByLoSellHi:

"Prime Home Builders, a closely held company in Fort Lauderdale, Florida, is advertising a 23 percent discount on a new four-bedroom townhouse with two and half bathrooms in Naples, Florida. The price was slashed to $344,169 from $449,258 in a development where about half the units have been sold, said Keith Thompson, a marketing consultant with Prime Home Builders." [/B]
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Where can you find a new 4 br, 2.5 ba townhouse in Naples for 344k? I want to buy one.
 
Quote from jumper:

Where can you find a new 4 br, 2.5 ba townhouse in Naples for 344k? I want to buy one.
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Three years ago. I got pissed and walked away from the high prices in Florida.

It's time to buy.

MLS #: 206038314
7337 BRISTOL CIR
Naples, FL 34119
Price: $349,900
Bedrooms: 4
Bathrooms: Full: 2 Half: 1
 
Quote from michaelscott:

I have visited Phoenix a few times and the summer is WORST then a northeast winter. You go outside and its so hot that it feels like you are in an oven. Even dressed very lightly with shorts and t-shirt your still drenched in sweat with any activity outside. To make matters worse, where is the jobs? How does one make a living there?
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I dunno, the city of Phoenix has 1.5M residents (that's not even counting the entire metro area). So they obviously have a lot of jobs there to support a population that size.
 
Quote from patoo:

Three years ago. I got pissed and walked away from the high prices in Florida.

It's time to buy.

MLS #: 206038314
7337 BRISTOL CIR
Naples, FL 34119
Price: $349,900
Bedrooms: 4
Bathrooms: Full: 2 Half: 1
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How do you look that up? Link please.
 
Quote from ByLoSellHi:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aKQoeHb1MraI&refer=home

"Atlanta-based Beazer Homes USA Inc. was offering houses in the first quarter at a development about 44 miles outside Phoenix, Arizona, for $136,990, down 36 percent from the year-earlier price of $215,490, said Samantha Morris, senior consultant in Houston- based Metrostudy's Mesa, Arizona, office."
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"Prime Home Builders, a closely held company in Fort Lauderdale, Florida, is advertising a 23 percent discount on a new four-bedroom townhouse with two and half bathrooms in Naples, Florida. The price was slashed to $344,169 from $449,258 in a development where about half the units have been sold, said Keith Thompson, a marketing consultant with Prime Home Builders."
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I believe the Home ownership rate in the US is hovering around 70% . As far as the rest of the 30%, they'll never buy a house.

The only ones left to buy these new houses are the illegal immigrants. But then Julio the taco flipper doesn't get paid more than $4.00 / hr and lives 20 individuals to a 1 bedroom apartment.

If prices drop enough to where he can qualify to purchase with his $4.00/hr wager and then moves into the neighborhood with his "family", the prices of the other houses drops even more.
 
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