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No Chinese buyers in Phoenix???


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2014 Jul 9, 11:39am   7,572 views  19 comments

by Heraclitusstudent   ➕follow (8)   💰tip   ignore  

To grab these nice desert-front properties?

1) Overall sales in June were down 11% year-over-year and at the lowest for June since 2008. (last year were down -10.8% from previous year, itself down -18.0% from 02011)

2) Cash Sales (frequently investors) were down about 40%, so investor buying appears to be declining. Non-cash sales were up about 6% year-over-year.

3) Active inventory is now increasing rapidly and is up 43% year-over-year - and at the highest level for June since 2011.

http://www.calculatedriskblog.com/2014/07/phoenix-real-estate-in-june-sales-down.html

Looks like there won't be a bubble there.

Comments 1 - 19 of 19        Search these comments

1   lostand confused   2014 Jul 9, 12:50pm  

I went to a Chinese restaurant in Phoenix and everybody working there was Mexican. It was just odd-not a single Chinese staff.

2   corntrollio   2014 Jul 10, 4:14am  

lostand confused says

I went to a Chinese restaurant in Phoenix and everybody working there was Mexican. It was just odd-not a single Chinese staff.

A sushi place I went to in the South used to have all Japanese sushi chefs the first two times I went there (probably 12-15 years ago). When I went back there a few years later and again recently, all the sushi chefs were Mexican, but still said "arigato" when you left.

3   hanera   2014 Jul 10, 7:42am  

Even in Bay Area, restaurants (including fast food) employ Mexicans.

4   MAGA   2014 Jul 10, 11:02am  

Who would want to live in Phoenix?

5   John Bailo   2014 Jul 10, 11:05am  

jvolstad says

Who would want to live in Phoenix?

I've considered it, there's a lot of that style that I like, and the costs can't be beat and are getting even better!

(Well until Obama sells them all to Central American border crossers using our tax dollars to prop up prices.)

6   American in Japan   2014 Jul 12, 2:46am  

>>When I went back there a few years later and again recently, all the sushi chefs were Mexican, but still said "arigato" when you left.

Lol

7   Facebooksux   2014 Jul 12, 11:42am  

I don't know why Roberta can't re join and give us a first hand update. I'm being sincere.

8   The Original Bankster   2014 Jul 12, 12:42pm  

Phoenix is one of the nicest places to live in the US hands down.

9   The Original Bankster   2014 Jul 12, 12:43pm  

the situation in Phoenix is a bit hard to understand. All the action is in Downtown Phoenix. It's likely the nicest metro area in the entire US and still fairly affordable.

10   The Original Bankster   2014 Jul 12, 12:45pm  

yes I bought roughly 4 years ago(REO) and my house has increased in market value. I bought the house in cash. It's not the nicest region but dollar for dollar can't beat it. Weather is great 4/5 of the year. We're in the dog days right now.

11   The Original Bankster   2014 Jul 12, 1:36pm  

is that Phoenix Valley or City of Phoenix?

or is this another 'Phoenix Sucks, Love Kalifornia' thread?

12   The Original Bankster   2014 Jul 12, 1:56pm  

again, is that Phoenix VALLEY or City of Phoenix?

Valley includes a lot of diverse sorts of developments. I think these areas were dramatically overvalued. They resembled California. I live in Metro/Dowtown Pheonix. Totally different story. We have a light rail, near the airport, high rise condos, nice public buildings, etc.

13   The Original Bankster   2014 Jul 12, 1:57pm  

generally dollar for dollar a comparison between Cal and Phoenix is a no brainer.

14   Analyzer   2014 Jul 13, 4:18am  

The Original Bankster says

Phoenix is one of the nicest places to live in the US hands down.

Why?

15   The Original Bankster   2014 Jul 13, 5:02am  

Analyzer says

The Original Bankster says

Phoenix is one of the nicest places to live in the US hands down.

Why?

affordable. good laws for property owners. no annoying liberals. American soil.

16   The Original Bankster   2014 Jul 13, 5:14am  

sbh says

The Original Bankster says

no annoying liberals

That's for sure, but it's still immeasurably annoying nonetheless.

its funny how Californians try and put it down, but really Phoenix is all the basics with none of the insanely overpriced garbage you pay for in California. Most Calis realize this so they only have one recourse- try and put it down. Unfortunately this doesn't help their situation.

Enjoying the beach Californians? when do you get the chance to go there during your 80 hour workweek?

17   The Original Bankster   2014 Jul 13, 5:46am  

destroying public education?

PUBLIC EDUCATION: by that you mean allowing a little boy dressed as a girl access to the girls bathroom?

you're not an Arizonan, youre some lame transplant. Tucson is retarded- it's for bozo liberals who can't even get along with other liberals. God knows who would want to set up shop in that place aside from pigeons.

18   The Original Bankster   2014 Jul 13, 5:55am  

no shit- most Arizonans I know spend more time at the beach than the Californians I know.

all Californians ever do is sit around and convince each other how great their obscenely overpriced bullshit lives are. Meanwhile Arizonans are having a barbeque and riding their motorcycles. I guess if you live in California and you're convinced you've got it good, I'm not really going to get all up in your face about it. Enjoy, califags!

19   The Original Bankster   2014 Jul 13, 6:04am  

ah I get it, you're an illegal alien- oh sorry 'guest worker-slave'.

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