We’ve heard it time and again from the pundits- this little housing slump will disappear quickly here in Phoenix.  After all, this is such a wonderful place to live, the job market will keep expanding, people will keep moving here, and those people will keep spending money.  From the sound of things from the Maricopa Board of Supervisors though, things might not be so rosy: Facing a nasty revenue slump, the Maricopa County Board of Supervisors is expected to approve a plan today that would cut spending and squeeze more bang out of its $2.2 billion budget. The spending plan…
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I was about to call it a night last night, when I ran across this great article by Peter G. Miller at Realty Times.  It was too good to pass on.  Miller talks about Montgomery County, Maryland, and how a county that is as "un-subprime" as it gets is having meltdown problems of its own: According to the 2000 Census, among all 3,142 counties nationwide Montgomery ranks 15th in per capita income and 13th in median household income ($71,551). Among adults, 59.2 percent have a bachelor’s degree and 30.6 percent have graduate or professional degrees. The county is home to…
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According to the Tucson Association of Realtors, the median home price in October was $210,000.  This was down 1% year-over-year, and down 8.3% off of the record price of $229,000 set in June 2007.  While prices have been up and down in recent months, prices are back to levels first reached in the spring of 2005: According to Judy Lowe, President of the Tucson Association of Realtors: