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TBF - wasn't the Phoenix metro up almost 40% in one year? After a 14% cut, that would still be an absurd YoY increase (I think still the largest single year in
by onlyrealcuzzo 5y ago
TBF - wasn't the Phoenix metro up almost 40% in one year?
After a 14% cut, that would still be an absurd YoY increase (I think still the largest single year increase in a major metro in the US on record?).
I get that Zillow is losing 14% - but the market is not yet even back to normal appreciation - let alone "crashing".
- roland35 5y agoHere is the case shiller index for Phoenix - it is absolutely wild since 2020! https://fred.stlouisfed.org/series/PHXRNSA/ https://fred.stlouisfed.org/series/PHXRNSA/
- lsh123 5y agoOne thing I don’t understand is that many people who buy houses in Phoenix believe in Global Warming getting worse in the short term (source: lived in Phoenix for a year, considered buying a house there, and spoke with many folks who just moved or were about to move).
- KingMachiavelli 5y agoHot and dry is not that bad from a global warming standpoint. Evaporative cooling is very effective and efficient so it's actually less energy intensive heating in colder locations. The plentiful amount of space and days of sun makes solar energy very practical. The nights can get pretty cold so it means that certain evening hours are actually very comfortable.
- xapata 5y agoExcept for drought problems.
- railton 5y agoHave you read "The Water Knife" by Paolo Bacigalupi? Mostly set in Phoenix when the water has run out. https://www.goodreads.com/book/show/23209924-the-water-knife https://www.goodreads.com/book/show/23209924-the-water-knife
- JKCalhoun 5y agoTail end of the graph: looks like the graph approaching 2006.
- OldHand2018 5y ago14% after 3 price cuts. I wonder how long it has been on the market and if more cutting is going to happen before it sells.