Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
Visit Housing Bubble Blog
The Short Market Downturn Turned Into A Free Fall
Posted on May 11, 2008
The East Valley Tribune reports from Arizona. In the first quarter of 2008, there were 310 resales of homes in Maricopa at a median price of $170,000, according to a real estate report issued by Arizona State University. In the same quarter of 2007, there were 90 resales with a median value of $246,500. Paul Jepson, an assistant to Maricopa s city manager, said that about 31 to 34 percent of resales in the city have been of such underwater, or distressed as he called them, homes. One of the market casualties is Daryl Fox, a recently unemployed cosmetics salesman. After his divo...
Original article link
Subscribe to Housing Bubble Blog