Up To 67% Of Phoenix Homes Are Underwater

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 09/13/2010 - 13:05 | 578638 hedgeless_horseman
hedgeless_horseman's picture

This city shall rise from the ashes like a...GM's subprime-business model.

Mon, 09/13/2010 - 12:54 | 578639 cossack55
cossack55's picture

I'm not up to snuff on my mythology, does the Phoenix always arise from the ashes?

Mon, 09/13/2010 - 14:25 | 578873 Quinvarius
Quinvarius's picture

The key concept being "ashes".

Mon, 09/13/2010 - 16:46 | 579257 A Nanny Moose
A Nanny Moose's picture

Fire is necessary for the healthy forest.

Mon, 09/13/2010 - 17:46 | 579376 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

indeed it is. but man keeps trying to put out all the forest fires in the west, anyway. just like this god damn government keeps putting out all this disaster crisis and this depression with fake money, water . similar, ah, throwing good money or water to control natural events. it's like they think they have power over nature and gravity. americano's at least, believe man has the power to control, nope. w i n d   water   s u n (fire)   earth.

healthy forests, pine beetle winning.

Mon, 09/13/2010 - 14:40 | 578921 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

your funny cause south Arizona is like living amongst the ashes.

the phoenix/bennu was originally a symbol for the rise, fall, and return pattern of the sun. later, the creature also became a symbol for the human journey of life, death and rebirth.

Mon, 09/13/2010 - 12:55 | 578641 ColonelCooper
ColonelCooper's picture

How does that definition of insanity go?  Something about repeating the same action over and over......

Mon, 09/13/2010 - 12:58 | 578646 Bluntly Put
Bluntly Put's picture

I left Phoenix a few months ago, Phoenix had structured most of it's economy on housing, other than Motorola and Intel there is little tech or manufacturing. Talk about malinvestments. I think the City has downsized it's planning and development departments by over 60%. I'm sure there will be deals to be made in Cave Creek where subdivisions to nowhere have been constructed, 4,000 sq foot homes 40 miles from nowhere. I'm glad I left when I did. No offence folks in Phoenix/Scottsdale but you got a whole lot more pain in the pike.

Mon, 09/13/2010 - 13:53 | 578791 pitz
pitz's picture

Motorola hasn't been doing so well, and Intel's way of doing business is to bring in a bunch of foreigners on the H1-B visa program, instead of hiring local people with a long-term committment to the community.

Mon, 09/13/2010 - 12:59 | 578648 NotApplicable
NotApplicable's picture

Before this is all said and done, the only requirement needed to qualify for a mortgage will be a voter registration card.

Mon, 09/13/2010 - 13:12 | 578683 breezer1
breezer1's picture

a library card, if you can find one not closed down.

Mon, 09/13/2010 - 22:32 | 579821 Squid-puppets a...
Squid-puppets a-go-go's picture

lol or a Zero Hedge profile

no collateral required for non- anonymous profiles, anonymous ones must put up 0.5% equity to loan

Mon, 09/13/2010 - 13:20 | 578701 Amish Hacker
Amish Hacker's picture

And remember, when all is said and done, a lot more gets said than done...

Mon, 09/13/2010 - 13:27 | 578721 Village Idiot
Village Idiot's picture

when all is said and done, a lot more gets said than done


bumper sticker

Mon, 09/13/2010 - 13:58 | 578804 Caviar Emptor
Caviar Emptor's picture

Steam on a mirror

Mon, 09/13/2010 - 14:25 | 578875 pitz
pitz's picture

Mortgages won't exist once everything is said and done.  Cash only, bitches! 

Mon, 09/13/2010 - 14:28 | 578886 kalum
kalum's picture

A drivers license. We give them here in NM to anyone who appears alive.

Mon, 09/13/2010 - 12:59 | 578652 Boilermaker
Boilermaker's picture

Phoenix...LMFAO...get real.  Come see me in Detroit and I'll show you the real ugly side of this story.

Mon, 09/13/2010 - 12:59 | 578653 Gromit
Gromit's picture

and the other 33% are free and clear?

Mon, 09/13/2010 - 17:02 | 578723 hedgeless_horseman
hedgeless_horseman's picture

Work on your spin, or you will never make it in the new normal...

Making mortgage payments is still not a problem for thousands of Phoenix home owners as economists continue to see signs of a recovery in housing.  Pulte Homes' stock confirms this recovery as it has exploded up more than 8% in the last month.

Horse shit...familiarity improves recognition.

Mon, 09/13/2010 - 12:59 | 578655 Rusty Shorts
Rusty Shorts's picture

And still, the Banksters are enjoying themselves down in the Bahamas.


Mon, 09/13/2010 - 13:25 | 578713 MsCreant
MsCreant's picture

Rusty, that was so serene, sweet, and wonderful. Really wish I had been there. Nice Post.

Please don't insult pigs like that anymore. Okay? I mean, I hate to pull out the big guns but I could bring in the Humane Society on this. I don't want to, but, ya know, pigs have rights.

Mon, 09/13/2010 - 13:51 | 578784 Rusty Shorts
Rusty Shorts's picture

 - umm, good point MsCreant, I will make a formal apology to the pigs.

Mon, 09/13/2010 - 19:11 | 579506 Dr. Sandi
Dr. Sandi's picture

There are a couple of them kicking your front door in, even as I type this....

Mon, 09/13/2010 - 16:52 | 579265 A Nanny Moose
A Nanny Moose's picture

Today's bankers, tomorrows Chorizo con Huevos

Mon, 09/13/2010 - 13:57 | 578756 Cognitive Dissonance
Cognitive Dissonance's picture

Did you notice the Bankster pigs keep swimming no matter what? They head for the boat, but if nothing is proffered, they keep on moving. It's either paddle like hell or sink (sleep?) with the fishes.

Mon, 09/13/2010 - 13:00 | 578656 plocequ1
plocequ1's picture

Too late. The market is immuned to bad news. What else ya got?

Mon, 09/13/2010 - 13:05 | 578665 MsCreant
MsCreant's picture

Ron Paul just got elected president? Would that do it?

Mon, 09/13/2010 - 13:07 | 578673 plocequ1
plocequ1's picture

Don't tease me like that.

Mon, 09/13/2010 - 13:21 | 578705 myshadow
myshadow's picture

well, congress is there. so, no.

Mon, 09/13/2010 - 13:27 | 578722 MsCreant
MsCreant's picture

Needs a total sweep, even the staffers. I agree. And then we are still hosed.

Mon, 09/13/2010 - 14:19 | 578860 Arthor Bearing
Arthor Bearing's picture

Honestly, this is a worst-case scenario. If Paul and other right-thinking people came to power, immediately audited the fed, ended fiat currency, and perhaps even defaulted on existing debt obligations, the resulting turmoil would be blamed on them, even though they would merely have catalyzed a reaction that had been building for almost a century. 

What's needed is for TPTB to stay in power all the way to the bitter end, so everyone will know EXACTLY who's fault it all was.

Mon, 09/13/2010 - 14:35 | 578913 Shameful
Shameful's picture

The problem with this is what are the chances they will be able to hold on?  Do a party swap, scape goat the foreigners or minority ethnic group and kick off a new wave of tyranny.

You give the average person to much credit.  The vast majority will simply root for their color, blue or red while the ship burns.  And after the ship is sunk they will likely continue to vote for their favorite team.

Mon, 09/13/2010 - 16:18 | 579189 MachoMan
MachoMan's picture

Joe sixpack will need no help...  this party crashes on its own.  Regional political power prohibited them from passing the baton to a single world government...  the noose tightens...  trust me, it will be painfully obvious who is to blame.

I'm not saying we'll do anything about it or even be in a position to do something should we desire on the backside of this thing...  but J6P will be well aware of who is to blame and no amount of propaganda or fear mongering will sustain the lie.

Mon, 09/13/2010 - 17:27 | 579340 carbonmutant
carbonmutant's picture

 The antibodies in the system (FED cartel) would not allow him to be elected.

Mon, 09/13/2010 - 13:01 | 578658 jbc77
jbc77's picture

No problem. Listen boys, as long as the fed keeps buying stocks twice a week, whos gives a rats ass, right? Nothing to see here, perfectly normal when over 50% in a major city are underwated. Whats wrong with that? Dow is up today.

Mon, 09/13/2010 - 13:11 | 578679 plocequ1
plocequ1's picture

Spoken like a true protege.

Mon, 09/13/2010 - 13:02 | 578659 Cognitive Dissonance
Cognitive Dissonance's picture

Up To 67% Of Phoenix Homes Are Underwater

How ironic that one of the driest cities in America could be so flooded under bad debt.

Mon, 09/13/2010 - 13:05 | 578666 MsCreant
MsCreant's picture


Mon, 09/13/2010 - 13:33 | 578735 Village Idiot
Village Idiot's picture

Good morning, Cog Dis!

Hey, my brother forwarded a song to me - some (two) of most poular words used on ZH. It's a catchy little ditty.  Enjoy.



Mon, 09/13/2010 - 13:45 | 578762 DavidC
DavidC's picture

Village Idiot,
That's one the very few song and video links that I've really enjoyed!


Mon, 09/13/2010 - 14:15 | 578848 Cognitive Dissonance
Cognitive Dissonance's picture

If I remember correctly Deadwood set the record for F bombs per episode, didn't it? Personally I loved it. When used properly, as I believe it was in Deadwood, it's almost poetic.

The only G rated place out west in the 1800's (and early 1900's) was on TV. Where being presentable in public was defined as making sure you wore your cleanest dirty shirt, swearing was part of the everyday language.

Mon, 09/13/2010 - 16:35 | 579229 ColonelCooper
ColonelCooper's picture

Good one, Rusty. 

If I had just closed my eyes and listened, I would have thought it was just one of our morning meetings at the last big job I worked on.

Mon, 09/13/2010 - 19:57 | 579600 Rusty Shorts
Rusty Shorts's picture

HA, I've been in few meetings like that !!

Mon, 09/13/2010 - 14:06 | 578829 Cognitive Dissonance
Cognitive Dissonance's picture

LOL, very nice.

It does appear that Cee Lo Green is contributing to the delinquency of minors with the lyrics, but it's all in fun, right? :>)

Mon, 09/13/2010 - 14:11 | 578837 Village Idiot
Village Idiot's picture

Oh, one more thing - zh is a community. Peace.

Sent from my I phone.

Mon, 09/13/2010 - 14:16 | 578852 Cognitive Dissonance
Cognitive Dissonance's picture

Apparently many disagree with my supposition.

Mon, 09/13/2010 - 14:28 | 578883 MsCreant
MsCreant's picture

I think it is a community for some, and not all, and that is okay. Modern life in the RW is like this too, locals who hang out, others who drift in and out. It is okay to be both. I also think for some this is a home base, stop in, check your perspective against others, move on, come back after a while, it's still here.

It's all good. What disparagers think is irrelevant. They know what their experience is for them and that is okay. I know what my experience is like for me. How could I be "wrong?" It's mine. :-) As I see it, no conflict.

Mon, 09/13/2010 - 14:49 | 578947 Village Idiot
Village Idiot's picture


Do NOT follow this link or you will be banned from the site!