Date registered: Aug 2002
Vehicle: 2021 SL770
Location: Fountain Hills, AZ
Mentioned: 1 Post(s)
Quoted: 544 Post(s)
Originally Posted by Shane
It is a market correction, but the correction is only in a few, namely coastal, areas of N America. Dallas and Santa Fe missed the boom, but we are also as of right now, missing the drop.
The more active the market, the bigger the hit. The most active markets in terms of growth over the past few years have been in AZ and NV. Home values in the metro Phoenix area dropped about 10% over the past year. Home sales were down more than 30%.
"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon