Wednesday, April 29, 2009
Phoenix falls into ashes...prices down by half
Phoenix leads nation in home price declines in February - Phoenix Business Journal:: "Phoenix home prices fell 35 percent from February 2008 to February 2009, according to the new S&P/Case-Shiller 20-city home price index. That’s the largest decline of any of the 20 largest cities in the U.S. In addition, Phoenix home prices are down 51 percent from their peak."
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2 comments:
More evidence that HOAs do not and never have "preserved property values" - at least not for the owners. So exactly where will CAI turn to provide evidence that an HOA "preserves values" for the property owners? They'll claim it's "the economy" but when the economy is good they'll claim it's the HOA. The reality is that preservation or increases in property value are not attributable to HOAs.
Constitutional public local governments also seek to protect property through zoning and ordinances and HOAs as private local governments play a similar role.
But neither public nor private government can claim such policies preserve property value since many market, economic and demographic factors strongly influence the appeal and value of a given property.
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