| Considering buying a house in Phoenix Arizona? There | | | | situation in many parts of the country, adding greatly to |
| may be no better time than the present to make a | | | | their portfolios by buying up these homes at |
| permanent home in Arizona's Valley of the Sun. | | | | bargain-basement prices from economically distressed, |
| By now, most people have realized that home values | | | | hardworking families facing foreclosure due to |
| in many parts of the country have been falling. | | | | circumstances created by an irresponsible, |
| Unfortunately, because of economic machinations, | | | | pro-corporate U.S. government. |
| irresponsible financial behavior on the part of the | | | | When it comes to the Phoenix area, there indeed has |
| current Administration and federal economic policies | | | | been some dip in the value of houses, however, due to |
| that for a generation have favored large, wealthy | | | | a strong local economy and an large influx of new |
| corporate interests and individuals while actively | | | | residents, this dip has been far less dramatic than in |
| seeking to hurt the average American worker, many | | | | other parts of the U.S. The median home price, while |
| homeowners were lured into "adjustable rate | | | | somewhat lower than a year ago, is still over $20,000 |
| mortgages," or ARMs. Aggressive and even predatory | | | | more than it was at the height of the boom in 2005. |
| lending practices by the mortgage industry has now | | | | Therefore, when buying a Phoenix Arizona home or |
| led to major problems as on one hand, people own | | | | condo, you should do it with the intention of staying in |
| more on their homes that the homes are worth, and | | | | that home for at least five years; looking at such a |
| are now facing significantly increased payments as the | | | | purchase as a chance to "flip" the property for a quick |
| fed raises interest rates. On the other hand, the inability | | | | profit would be a grave financial mistake. |
| of those with mortgages to meet their payments has | | | | On the other hand, when all issues are considered - |
| caused many lenders to go under. | | | | such as the quality of life, the strength of the local |
| In the great conservative tradition of the past 27 | | | | economy and the many advantages of living in the |
| years, the current Administration has eagerly come to | | | | Phoenix metro area with all that it has to offer, |
| the rescue of these lenders, while allowing average | | | | purchase of a Phoenix Arizona condo or home will |
| hard-working, tax-paying citizens to go under. The | | | | most likely prove to be an excellent long-term |
| result: very motivated buyers in many parts of the | | | | investment. While nobody can predict the future, all |
| country. | | | | indications point to a thriving, growing community in the |
| Wealthy investors are taking great advantage of the | | | | Valley of the Sun in the coming decades. |