ST Alpha - "so here's my RE question: why did phoenix have the biggest drop?" (Reading a Post)

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so here's my RE question: why did phoenix have the biggest drop?

Posted by workmanda (aka amanda) May 26 '10, 10:31

The eye-popper here is that the Phoenix market has lost 52% of its value from the peak, and still builders are finding new aquifers and paving new developments.
(from redfin)

I mean, I get "because it had the biggest run up in prices." but why that??

link! (blog.redfin.com)

Responses:

people were pouring out of california into nevada and arizona during the first half of the decade - wheezy May 26, 10:34 11
- did CA have neg pop growth during that time? and really, why? what's the difference between "oppressive heat, bad for your skin" - workmanda May 26, 10:36 10
  - CA has one of the highest unemployment rates in the country and has the highest housing costs. The economy remains fragile, people have abandoned - jnine May 26, 18:33
  - cheaper housing, more jobs? -- nm - loosilu May 26, 10:38 2
    - "but you'll still have bad pores and be hot!" -- nm - workmanda May 26, 10:39 1
      - vegas was booming, drawing people to nevada. arizona also benfitted from the elderly shift from rust belt to sun belt -- nm - wheezy May 26, 10:41
  - no, pop still increasing there. -- nm - Don Homer May 26, 10:36 5
    - it's complicated. foreign immigration kept california's population increasing overall but existing residents were moving out -- (link) - wheezy May 26, 10:39
    - can mara google us up pop growth by market? I wonder who else besides FL is hurting. -- nm - workmanda May 26, 10:37 3
      - in the real estate market? almost everyone. -- nm - Don Homer May 26, 10:38 2
        
        I know the RE market (but thanks for assuming I'm dim!). I asked specifically about pop growth. -- nm - workmanda May 26, 10:40 1
        
        Florida is still increasing; just not as much as before. -- nm - Don Homer May 26, 10:43
So that it could rise from the ashes? (nm) - musubi May 26, 10:34 1
- nice. -- nm - loosilu May 26, 10:35

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so here's my RE question: why did phoenix have the biggest drop?

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