“INVESTORS” who haven’t learned their lessons?

[dbapig]

Saw an interesting article on LA Times. I didn’t even bother continue reading after the first few paragraphs. To read the complete article you can go to the link.

http://www.latimes.com/news/nationworld/nation/la-na-phoenix18-2009may18,0,7979477.story

Reporting from Phoenix — After four years of renting because they were priced out of the real estate market, Jamia Jenkins and Scott Renshaw concluded the time had arrived for them to buy.

They saw that home prices had dropped so fast here — faster than in any other big city in the nation — that mortgage payments would be less than the $900 they paid in rent. The city is littered with foreclosed houses, so the couple figured they could easily snatch up something in the low $100,000s.

Three months later, they’re still looking. They have submitted 13 offers and been overbid each time. “It’s just pathetic,” said Jenkins, 53. “Investors are going out there and outbidding everyone.”

…
…

[EconProf]

I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.

[EconProf]

I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.

[EconProf]

I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.

[EconProf]

I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.

[EconProf]

I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.

[Nor-LA-SD-guy]

[quote=EconProf]I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.[/quote]

OK One last Post,

Ever been to Phoenix when it gets to 113 degrees
then drops down to an overnight low of 100,
It’s like this a good part of the summer.

[Nor-LA-SD-guy]

[quote=EconProf]I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.[/quote]

OK One last Post,

Ever been to Phoenix when it gets to 113 degrees
then drops down to an overnight low of 100,
It’s like this a good part of the summer.

[Nor-LA-SD-guy]

[quote=EconProf]I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.[/quote]

OK One last Post,

Ever been to Phoenix when it gets to 113 degrees
then drops down to an overnight low of 100,
It’s like this a good part of the summer.

[Nor-LA-SD-guy]

[quote=EconProf]I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.[/quote]

OK One last Post,

Ever been to Phoenix when it gets to 113 degrees
then drops down to an overnight low of 100,
It’s like this a good part of the summer.

[Nor-LA-SD-guy]

[quote=EconProf]I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.[/quote]

OK One last Post,

Ever been to Phoenix when it gets to 113 degrees
then drops down to an overnight low of 100,
It’s like this a good part of the summer.

[34f3f3f]

Prices have come down in Phoenix, but bidding wars are insanity, and very irritating for first time buyers trying to get a good deal. I’m not sure I agree that Phoenix is a template for what will happen in the rest of the country. As for living or retiring there, it’s pretty hot and a bit boring, but definitely better value than California.

Here’s Guntermans’ website http://knowledge.wpcarey.asu.edu/article.cfm?articleID=1750&post=success&CFID=37521768&CFTOKEN=43910290&jsessionid=f0301518e135f972aec4384549155e761b7f

[34f3f3f]

Prices have come down in Phoenix, but bidding wars are insanity, and very irritating for first time buyers trying to get a good deal. I’m not sure I agree that Phoenix is a template for what will happen in the rest of the country. As for living or retiring there, it’s pretty hot and a bit boring, but definitely better value than California.

Here’s Guntermans’ website http://knowledge.wpcarey.asu.edu/article.cfm?articleID=1750&post=success&CFID=37521768&CFTOKEN=43910290&jsessionid=f0301518e135f972aec4384549155e761b7f

[34f3f3f]

Prices have come down in Phoenix, but bidding wars are insanity, and very irritating for first time buyers trying to get a good deal. I’m not sure I agree that Phoenix is a template for what will happen in the rest of the country. As for living or retiring there, it’s pretty hot and a bit boring, but definitely better value than California.

Here’s Guntermans’ website http://knowledge.wpcarey.asu.edu/article.cfm?articleID=1750&post=success&CFID=37521768&CFTOKEN=43910290&jsessionid=f0301518e135f972aec4384549155e761b7f

[34f3f3f]

Prices have come down in Phoenix, but bidding wars are insanity, and very irritating for first time buyers trying to get a good deal. I’m not sure I agree that Phoenix is a template for what will happen in the rest of the country. As for living or retiring there, it’s pretty hot and a bit boring, but definitely better value than California.

Here’s Guntermans’ website http://knowledge.wpcarey.asu.edu/article.cfm?articleID=1750&post=success&CFID=37521768&CFTOKEN=43910290&jsessionid=f0301518e135f972aec4384549155e761b7f

[Author]

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