A freakishly dramatic figure. Gotta be down to foreclosuregate and banks keeping properties off market. More "shadow inventory". Notice how there's no discussion of.....what do we call it now? daylight inventory?

Interesting how this plays into the "extend and pretend" idea still gripping the banksters balls. It's become amusing. I know this music. For now it's a shell game but all the sudden it's gonna turn into musical chairs. Musical chairs on the deck on the Titanic? Yes, even as Titanic and cataclysmic as the dreaded mixed-metaphore.

Well it doesn't matter what else markets do, these property values are coming DOWN because nobody underwater or awaiting an eviction that's been stayed or withheld has any pride of ownership anymore. The whole Valley is gonna look like CRAP-OLA in a couple short years. Once the textured stucco wears off the styrafoam that covers your houses, they will start to disintegrate and you'll have artificial snow blowing year round. Your prefab tinsel-toy ain't worth shit. Never was.

Anybody having second thoughts about locating a modern city in the middle of the Sonoran desert?