[riri]

House prices here in Phoenix are near pre-bust. In a much softer job market. Granted there is some foreign investment, but I am not sure how much. I came back to the Valley last year after three years away and bought. My house has "appreciated" over 60k in that year. It can't hold.

I should add, also, after the bust--you couldn't give away one of these giant McMansions they build here. But, now they are building and selling them like hotcakes.They are ridiculous. One model in my neighborhood has 5,000 square ft. of which the upstairs consists of a couple of small rooms and a GIANT, GIANT big loft room--the size of three normal, large rooms. There is no way the average middle class family can afford to cool that for six months a year. I predict all those McMansions will once again be bought for the same price as the one story more modest homes. I swear people don't learn.

[dragnet2]

What’s it cost just to cool a Phoenix McMansion?

$700 a month?

More?