(See recent posts on Phoenix Case-Shiller Home Price Index.)
This is the latest Case-Shiller data for Phoenix that splits the index into price points. The different behavior of the 3 price levels in metro Phoenix is absolutely fascinating.
Tier Breakpoints (May 2011)
- Low Tier – Up to $95,997
- Middle Tier – $95,997 – $168,172
- High Tier – $168,172 and up
My comments in the video on this post from June still hold true.
The video explains my theory of why the Low Tier continued to rise in price in 2006 after the other two tiers had pretty much leveled off, and why afterward the Low Tier fell the most relative to its January 2000 price index. [Thank you Wells Fargo, New Century (deceased), Countrywide (bought by BofA), Ameriquest (deceased), Washington Mutual (bought by Chase), and many others. Your irresponsible lending, destroyed a lot of families financially, especially poorer families. Families that had saved up for a lifetime, been responsible and bought long before your sub-prime mania, those families ended up being wiped out financially as a result of your actions.]