And some predict oil at 400 a barrel.  what to do?

Did maricopa move? 40 miles from phoenix? did this clown measure from the city limits sign on the north side of phoenix?


the old saying "play with fire, get burned". If you THINK you can't afford it, you can't. poor purchasing practices are why renters like me are quickly turning into buyers. I knew i couldn't, and wouldn't pay a quarter million dollars for a tract home on a postage stamp of a lot. so i didn't.

Now the prices are even lower than reasonable, and the smart ones who "wasted" there money on rent are saving sometimes over $100,000 over the people who "invested" their life savings gambling with a variable interest rate. and on top of that probably even getting a better interest rate....

I feel no pity for people who make unwise choices, for the choice was theirs to make. We all make unwise choices, but a little self education and rational thought will help you to avoid them.

edit: i also love how these clowns are all losing their houses, but smoking cigarettes and dining out. get your finances straight before you recreate.

No sympathy here. The guy refinanced and spent the equity, and now he's crying for mercy. Too bad.

Sapo

The article is crap- totally one sided with limited factual details. What is the point about the whole only 'Jew' in town comment. I find that pretty offensive and has no relevency to the market conditions. Seeing how the people interviewed in the article are from New York or friends with those from New York leads me to believe the journalist made little effort if any to meet people and get their stories.  There are people here from New York, New Jersey, Cleveland, Wisconsin, California, Oregon, and Colorado just to name a few. That does not even count those that grew up here- or moved from another city in Arizona.

There are many people that bought at the wrong time -late 2005 & 2006- and are now upside down in their house. This happened in every city in Arizona, Nevada, Florida, Texas, and the majority of the cities across America. The same is said for many people that invested in the stock market at the end of 2007 and did not move money the beginning of this year when the market took a fall.

Bad investing is not something that deserves pity. If you do not do your homework and research it is your own fault. If you wait till 'everyone is doing it' you are TOO LATE!! That is what those in the article did including the real estate agent. Obvioulsy the agent was too worried about getting rich off the market and not actually paying attention to the conditions and housing cycles.

For those that made a smart home purchase (within income level- fixed rate- not 120% financing) they can tell a completly different story than the ones in the article. Fry's being the only hang out in Maricopa? That is just pathetic and horrible journalism.

Is the "19 year old Store Manager" they spoke to at Fry's really a manager? I think they are referring to the nerdy looking kid who runs the gas station.

ya, really. I think if you speak to any teen, in any town in the nation they will tell you where they live is boring.

disgusting!!!  There was prediction about maricopa being a ghost town in the future.. i am started to worry they were right and i am starting tot hink my husband and I are going to have to short sale our house to move out of here and where I can get medical help.