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Re:‘Housing in ‘07 wasn’t a bubble” is a true statement that... by andrewmcwatters on Friday April 08, 2022 @01:37AM (#30953659)
Yeah, and people still keep moving to the Phoenix metro area. The housing market is now closed for median income families as a result of the constant growth and the housing inventory here being dried up.

I want to emphasize that: if you're a median household income, middle class family moving to Phoenix, you can no longer afford homes here. There's zero inventory. ARMLS listings will produce nothing.

That's not an exaggeration. After breaking down the cost of a mortgage, insurance, property tax, cost of food based on USDA Cost of Food reports, median car payments, bills and utilities, and additional monthly expenditures, there's no way the math works out.

Phoenix is now Los Angeles. Look somewhere else. Phoenicians are.

Re:‘Housing in ‘07 wasn’t a bubble” is a true statement that... by cocoa19 on Friday April 08, 2022 @01:57AM (#30953760)
Zillow shows ~650 houses (sfh+town home) in Phoenix in the last 30 days.

It seems the median list price is 1/5th of bay area prices.

Re:‘Housing in ‘07 wasn’t a bubble” is a true statement that... by grapeskin on Friday April 08, 2022 @02:36AM (#30953976)
Phoenix also doesn’t have many people making 500k at 25, unlike the Bay Area. Prices can be lower but equally unaffordable for locals.