Phoenix Crash 2.0

[Anonymous No.53851431]

I don’t think anybody truly realizes how royally fucked the Phoenix housing market and economy in general is. There is absolutely nothing to support the high prices
>Average job pays only $40k-50k
>investors bought 30% of all single-family homes since 2020 and now will start to liquidate inventory
>Boomers will be dying off over the next 10 years
>Running out of water
>Becoming completely uninhabitable for humans 4 months a year
>Californians are heading back home now that remote work is ending

It’s hard to predict how low home values will go, but I’d suspect the true market values are somewhere around 2017-2019 prices (50%-70% drop in values) An average house here has no business being more than $250k

[Anonymous No.53851465]

>Inb4 muh Fed pivot!!
Interest rates are not going anywhere but up until late 2024 at the very earliest

>inb4 muh open borders to keep housing demand high!!!!
I can assure you that illiterate mexicans with $200 in their bank account are not spending $500k on a house

[Anonymous No.53851486]

>implying

people want sunshine and no snow they dont care about lack of water thats for rust belt incels

[Anonymous No.53851510]

>>53851486
cold weather and snow really do fucking suck. and i say this as probably one of the palest and blondest people on here.

[Anonymous No.53851529]

>>53851486
Pheonix gets up to 110 degrees in summer and spontaneously combusts. People want sunshine but theres a limit

[Anonymous No.53851580]

>>53851529
Literally does not matter to real estate baggies. There will be insurgent groups fighting over bottles of water at walmart with ar15s before housing plummets. Delusion is a hell of a drug.

[Anonymous No.53851759]

>>53851431
>delusion: the post
Phoenix might be fucked, but its not anywhere near as fucked as other cities
>investors bought 30% of all single-family homes since 2020 and now will start to liquidate inventory
most were bought with cash upfront, unless they really need collateral really fast they'll be fine and continue renting them
>Boomers will be dying off over the next 10 years
and thats a good thing
>Running out of water
around 80% of our states water use is in agriculture. Too much Saudi alfalfa bullshit that will inevitably be cut off if drought gets worse
>Becoming completely uninhabitable for humans 4 months a year
t. brainlet midwestern faggot who tries to hike camelback in the middle of the day and needs a helicopter to rescue his fat ass
>Californians are heading back home now that remote work is ending
another good thing
>It’s hard to predict how low home values will go
utter delusion. Supply is far too tight and more population increases every year. while new home construction is in a better state than other cities, we'll only get a slight cool down, mostly for the shitholes in Glendale/Mesa etc.

[Anonymous No.53851921]

>>53851759
Cope. Prices are already down 10% from the summer and supply has tripled from a year ago.

[Anonymous No.53851931]

>>53851431
Phoenix attracts rich retired boomers anon

[Anonymous No.53851972]

>>53851431
Arizona faggots can fuck off. They will never ever get one single drop of water from Lake Michigan.

[Anonymous No.53852230]

>>53851972
cope, we're getting that water whether you like it or not

[Anonymous No.53852381]

>>53851431
Hoomers will celebrate an early victory like Powell, but come 2025, they will beg for sales in what will dwarf 2008. Not cope, it's the cycle.

[Anonymous No.53852411]

“WATER TICKS could be here” he thought. I’ve never been to this part of the Colorado River before, there could be WATER TICKS anywhere” The 120 degree wind felt good against his bare chest. “I HATE WATER TICKS” he thought. The audiobook version of Cadillac Desert by Marc Reisner reverberated the entire car, making it pulsate even as the purified ClearSac urine circulated through his powerful thick veins and washed away his (merited) fear of those who didn’t respect the private property rights of the Southern Nevada Water Authority. “With a bright yellow Tesla Roadster, you can go anywhere you want” he said to himself out loud.

[Anonymous No.53852518]

>>53851759
>>53852230
seething airzona hoooomer lmao

[Anonymous No.53852553]

>>53851759

Is this your flipping project

[Anonymous No.53852555]

>>53851431
What attracts all these speculative idiots to this barely livable desert shithole? Is it proximity to California?

[Anonymous No.53852630]

>>53852555

At one point it was a fairly affordable city to live in. So like vultures they swooped in and bought everything up. Homelessness has exploded and Phoenix is basically becoming a California colony.

[Anonymous No.53852887]

>>53852630
>at one point
It has historically almost always been a very affordable place to live the only exceptions have been these 2 bubbles (2005 to 2008 and 2019 to present)

[Anonymous No.53853326]

>>53851431
the expensive homes in phoenix, paradise valley, and scottsdale continue to climb and be purchased. if u go to zillow right now and filter for 3mm+ you can find tons of shit thats making a profit even recently. there’s this one house on a hill in central phoenix going for like 5mm, last purchased for 2.5mm or so. obviously these are outliers but its not true at all across the board. where as expensive property in many cali cities is dumping with the garbage

[Anonymous No.53853347]

>>53851431
Can only pray. Switched jobs last year and went from 60k to 120k. Hope it slowly drips for the next year.

[Anonymous No.53853397]

>>53851431
As a Californian, why would I want to move to Phoenix? Utah (SLC) or Idaho (Boise) sound 10x better

[Anonymous No.53853405]

>>53851759
>t. bought the peak in H1 2021

[Anonymous No.53853588]

I love how reddit and trannies despise Phoenix makes me love it here

[Anonymous No.53853602]

>>53852553
and across the street we have...

[Anonymous No.53853685]

did you forget about that massive semiconductor plant being built
phoenix is exploding in growth even though its a mexican shithole. i dont think you realize how important immigrants are to our nation when our majority birthrates are at all-time lows. phoenix will just continue getting bigger and bigger as an illegal safe haven. cope, and why do you even care. you must have been priced out and clinging to hope like all other rentoids

[Anonymous No.53853722]

Would it be worth scooping up some land when it bursts? Or is it just shitty desert?

[Anonymous No.53853732]

>>53851486
>people want sunshine and no snow
who? blacks and mexicans?

[Anonymous No.53853758]

>>53851431
>Becoming completely uninhabitable for humans 4 months a year
lmao why are you such weak willed bitches? Dry heat isn't shit.

I'll take 100 and no humidity over 75 and 80% humidity.

[Anonymous No.53853901]

>>53853602
What kind of car is that with tree doors?

[Anonymous No.53853939]

>>53853685
That plant will be about 10-20k jobs in a city of 5 million+. Prices peaked in 2021, slowly have been slowly dropping since. They are also building a shitload of new homes and apartments here. The cope is you.

[Anonymous No.53853947]

>tfw bought Cali property in 2020
Always buy when there's blood in the streets bros :)

[Anonymous No.53853954]

>>53851431
>Average job pays only $40k-50k
Most people there are wealthy boomers and illegals on gibs, neither of which do any actual work

[Anonymous No.53853983]

>>53853901
I think the image was just 'skipped' or botched/compiled weird from Google. Idk the correct terminology maybe a techfag will know.

OP I work near Phoenix in the winter, it's growing at a pretty good rate. Houses are expensive though, I think you're getting priced out of a lot in the city. 300k minimum in some crowded development in the burbs (Apache Junction, etc...)

I like the Midwest long term. Like real long term, 20 years.

[Anonymous No.53853987]

>>53853939
Not to mention...thousands of them are already hired and currently training in Taiwan already...they already have homes here. And when the plant is done, you can kiss just as many construction/trade jobs goodbye!

[Anonymous No.53854011]

>>53851431
Montreal, median wage 50k.
Median house price in pic.
Marginal tax rates: near 32% on 50k
Food costs: unbelievable
Healthcare: none
Other costs: your car slowly gets eaten by rust

[Anonymous No.53855015]

>>53853397
ive lived all over ca, slc, and phoenix. ca is a shithole compared to phoenix and slc. sd, la, sf, are fucking shitholes, even santa barbara and slo and monterrey have tent cities and homeless gangs standing around fires everywhere its insane
slc is clean, mormons are cool, like jews at business but not trying to subvert everything nonstop. theres just nothing to do there, and it isnt pretty
phoenix has everything. scottsdale is great, tempe is cool, endless partying, wealth, food, roads are enormous and in a perfect grid great for driving/lot of street racing, etc. its ugly as fuck but most of america is ugly just what it is

[Anonymous No.53855049]

I've lived in arizona all of my life, and I don't want to leave, but I am legitimately paranoid about water and increased heating. Are there good spots maybe in more northern arizona where it doesn't get as hot but weather is still clement most of the year? Maybe places with natural fresh water that won't get sucked up by fucking boomers and their fucking lawns?

[Anonymous No.53855144]

>>53855049
The Verde river valley which is Cottonwood/Camp Verde/Clarkdale. They’re all boomer towns like nearby Sedona and extremely overpriced even though there are no jobs

[Anonymous No.53855237]

>>53855049
This is the core reason why I won't move to CA/AZ

I had a really good job opportunity in AZ that it took everything in me to not take. The pay raise would have put me over 200k. But it just so happened that this was going on when they had to have water control measures and it occurred to me that no matter how "rich" I feel like I am, the hyper wealthy will always have their water while I'm left to figure it out for myself.

Not to mention that when I was still interested in it, I was struggling to find anywhere to live and I wasnt willing to be a high earner living in the ghetto, I felt that was unacceptable for my own sanity. I would have taken a nice townhouse or something just to hold temporarily but I couldn't even find a reasonable townhome. The combination of these events eventually caused me to decline the position, which ended up working out because I did eventually make a somewhat vertical move and in a significantly lower CoL area as well so I actually feel like I accomplished something instead of likely what would have been my move to Phoenix, which would have overall felt like a horizontal or even backwards movement due to my CoL rising significantly and offsetting any gains I made in the promotion.

[Anonymous No.53855306]

>>53851465
>I can assure you that illiterate mexicans with $200 in their bank account are not spending $500k on a house
No, but a dozen illiterate Mexicans packed into a 3bed/2bath house living off government assitance and un-taxed cash wages are easily paying $3k+/mo in rent to the investors that can buy those houses.

[Anonymous No.53855441]

>>53851431
>houses must follow income

Tell that to California.

[Anonymous No.53855548]

>>53851486

[Anonymous No.53855595]

>>53855237
Had a similar offer (85k -> 125k) but when I looked into housing it was 500k+ for a fucking townhome in Scottsdale where it would be too hot to do anything outside for 4 months of the year and everywhere else was full of shit skins.

[Anonymous No.53855639]

>>53855049
AZ water situation isn't as bad as the media makes it out to be...at least not for residents. CA is super fucked though. They are trying to supply 3x the population and significantly more farms than we do with a similar share of water. CA also didn't come to an agreement with the other river states this year, so now the Feds will have to step in and they will probably be worse off than if they just conceded a little and got their shit together. AZ also has the option to build reservoirs on the RIM and stop all our monsoons from running off into the GC for califags to slurp later.

[Anonymous No.53855666]

>>53855595
Yeah basically any promotion less than a solid doubling of the salary just wouldn't make sense for pretty much anyone, because a move to AZ is doubling your cost of living.

Phoenix seems more overheated than most of SoCal right now honestly, both are incredibly overheated markets but Phoenix is just outrageous, I'd pay 500k to be near beaches and lots of things to do. I'd never in my life pay half a million dollars to be in a boring city in the middle of the desert. The only place that has ever gotten away with this setup is Las Vegas.

[Anonymous No.53855702]

>>53855666
>I'd pay 500k to be near beaches and lots of things to do
lmao...in CA you're paying 1 million+ for a duplex on the beach. When I moved CA to AZ...I doubled my salary and cut my COL in half...not to mention pay 2% state tax instead of 10%+. Phoenix housing has been dropping and will continue to...socal has been going up with no end in sight.

[Anonymous No.53856298]

>>53852630
I was born and raised in Mesa Arizona and went back after a decade of being in college and getting a job cause family moved when I did

I actually don't recognize it. Its kind of freaky to see my home town completely gone. Not even a small town mind you. Big suburb with lots of shops and stores and malls. But it was all spread out and we had big farms and parks

Now everything is crammed together. Its freaky. An endless sea of buildings like a weird purgatory

[Anonymous No.53856426]

>>53855702
Yeah but for the rest of us not from that area, a cooling phoenix is still insanity for most of us even if we are over the 6 figure threshold.

The point was that at least in CA you get beaches and shit. The house me and my wife currently live in would probably cost $5m in Phoenix and $10m in CA. But it wasn't even $1m here in the northeast and without doxxing myself we are currently 25 mins out from the nearest major metropolitan area Pittsburgh. It's not lavish and full of cool shit to do, but it's also not bumfuck nowhere either.

I was open to moving out west and I knew it would take a col hit but after performing the math, if I wanted to have the current lifestyle I have here, out there, our household income would have to double immediately. And after thinking this long and hard about it eventually you are just satisfied with the comforts you have and say fuck it life's too short to upend what you know is working, unless it works for -ME- then I'm just fine where I am.

[Anonymous No.53856484]

>>53852553
>>53853602
HAHAHAHAHHAHAHAHA

please tell me this isn't real

[Anonymous No.53856506]

>>53856426
Are you fine staying despite the chemical explosion near you?

[Anonymous No.53857244]

>>53855702
>on the beach

He's not talking about coastal CA dipshit. It's better to pay 700k for a house in Temecula where the weather is pleasant year-round and you're a 40 min drive to the beach, than live in the middle of the fucking desert where you boil for 4 months and pay the same housing costs.

[Anonymous No.53857257]

>californians heading back
I like that they managed to pozz the state in 2020 and 2022 though. That was really nice of them.

[Anonymous No.53857264]

>>53856426
>nearest major metropolitan area Pittsburgh
how are your wonderful african american neighbors? is your wife close friends with them?

[Anonymous No.53857358]

>>53857264
you've never been to Pittsburgh

[Anonymous No.53857367]

>>53856506
I was initially worried but so far the air has been fine. I said if I went outside and my eyes ever burn from the air and the government says all is good fuck that we'll find somewhere to go.

>>53857264
25 minutes out anon, this area is pretty upscale so we are definitely far enough away from the urban hellscape. However commuting into the city every day you never quite escape the crackhead knocking on your window for money, you know, just hUsTLe aNd BusTLe things

[Anonymous No.53857371]

>>53857264
Pittsburgh is the whitest major metropolitan area in the country and he said he's 25 minutes outside of it where essentially no niggers live.

[Anonymous No.53857423]

>>53857371
I didn't even know this lmao now I don't wanna leave lol

[Anonymous No.53857478]

>>53857423
Here's the data if you want it.

There's 328k non-whites in the metro area and 251k of them are in Allegheny (most segregated to certain parts of Allegheny).

Washington, Westmoreland, Butler are all 95%+ white with 750,000 people combined.

[Anonymous No.53858246]

>>53857478
The city proper is really tiny if you take all of Allegheny county it should be way higher, there's some rough areas around here that aren't in the city proper

[Anonymous No.53858320]

>>53857478
By that data Detroit seems like not a bad place to live. Kys

[Anonymous No.53858505]

>>53858320
Looks like your knowledge about Detroit is on par with your Pittsburgh knowledge.

Zoomers on cell phones with their 90 IQ takes ruined the internet.

[Anonymous No.53858539]

>>53858505
If you’re within 100 miles of somewhere that black your daughters will take the train into the city thinking it’s cool. We all know what happens next.

Also we have probably 5 years until we become South Africa and they start raiding your suburban neighborhood

[Anonymous No.53858543]

>>53858539
>take the train into the city

LMAO you know absolutely nothing about Detroit

[Anonymous No.53858549]

>>53851486
>air conditioned parking lot city full of obese boomers, Mexicans, and Californian washouts
Soulless shitskin weather

[Anonymous No.53859886]

>>53851759
>since 2020 and now will start to liquidate inventory
I dont think so. After 2008 most banks realized they can just turn into landlords and do fine. Theyll sell to REITs if anything and then take a stake in equity so they cant get it liquid instead of directly holding houses. The entire business world realized the US is overcrowded and the entire country will be NYC tier density soon.

[Anonymous No.53860029]

>>53857244
temecula is just as shitty as phoenix in the summer but sure...also have fun with your 2 hour commute and paying california taxes and gas prices

[Anonymous No.53860084]

>>53860029
also...
>comparing scottsdale prices to temecula prices
you cherry picked the most expensive area in phoenix with an almost bottom of the barrel shithole in socal...at least you didnt say san bernardino

[Anonymous No.53860148]

>>53851529
Don't be such a pussy. They have
AC everywhere and one of the largest nukes in the world to power it.

[Anonymous No.53860163]

>>53857244
Bell Gardens, CA