Phoenix Arizona Has Become HELL | Full Tour of The Collapse

💥 America’s #1 Build to RENT City Has Fallen 💥

GreatCreditFast Blog:

[tonyrappa]

They weren't lying when they said you will own nothing .What they lied about is you'll be happy

[mss]

I live here and have for 50 years. These apartments are 2000$ plus per month. What is this “affordable” thing? I do hvac at rentals. You’d be shocked what 1500 gets you. I would never live in a 1500$ apartment in Phoenix. 10 years ago it would have got you a luxury apartment in the best neighborhood. Disgusting

[bernadofelix]

For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.

[EvanIEvan]

The fix is simple: no hedgefund, organization etc can pirchase residential buildings. It can only be purchased by a single buyer with no ties to investment groups.

[tatianastarcic]

fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

[fisherman]

Some one needs to tell them 2k a month rent is not affordable

[desertrat]

Our govt needs to ban institutional investors from buying single family homes!

[JamesHill]

I have lived in Phoenix for 24 years and I would like to say that the average home should sell for $250k and the high end should sell for $500k. Now the average home is $400-500k and the high end are $1-1.5mil. The fundamentals are way off.

[FloodWaterrrr]

I was born and raised here in phoenix and in the last 5 years it’s gotten noticeably worse in all aspects. Homelessness, drug abuse, housing market, everything. It’s horrible and it sucks to see my home go down hill so fast

[TheDelamer]

Apache Junction is building homes for a million people in the next 10 years in the Superstition Vista area. 276 square miles. They are working on the water problem currently. No one brings up water issue in AZ and the sustainability of it.

[anthonyiannozzi]

I live here in Phoenix area and am blown away by all the ugly, soulless, dorm room looking multi family monstrosities. Terrible looking and infrastructure totally lacking. Highways getting like L.A.

[royalnavarre]

My rent increases every year. The apartments renovated the units and hiked the rent $500. Now paying $2000 a month in Gilbert, Arizona

[backtoconstitution]

Great analysis, the American dream has been snatched away from your kids and grandkids.

[MrLu]

I was looking for a house in Arizona and my realtor told me the same. The investors and companies are the ones buying the houses to rent. Right now, the situation is not good for families buying homes. A neighbor said the same too. There are a lot of homes under construction going on for rent. I lived in Arizona since 1990. I remember a 3 bedrooms and two bathrooms house cost was around $28, 000 to $40, 000 more. Life is not hard, people just make it hard for others.

[eduardoflores]

I live in phoenix and it’s RIDICULOUS the amount of apartments and houses being built… HUNDREDS anywhere you look there is new constructions i’m pretty sure there is going to be more apparments and houses than people at this point..

[alee]

Just a reminder, Phoenix Mayor Kate Gallego. a democratic has agreed to make Phoenix one if the WEF's " 15 Minute City" . No wonder all these "apartments" are being built.

[up]

it’s not JUST phoenix; Austin, Houston, Dallas (here in Texas) this is all going on in most major cities

[benvin]

It is absolutely crucial that we get some federal legislation that prevents corporate ownership of single-family residential property.

[MS-igku]

The mass building of Soviet style apartment blocks in America is a disaster.

[Garage]

My retired parents and their retired neighbors just had their affordable rent increased by $500. Rent raises are effecting our retiree's