At the height of Phoenix’s excess, in 2005, homebuilders were constructing 4,000 homes a month, bulldozing one acre of land every hour.
By 2008 the city was the epicenter of the country’s housing market crisis. Prices rose more precipitously and fell faster than most anywhere else.
It was among the most overbuilt of the overbuilt sand cities, optimistic right up until the collapse. Home values fell by 55 percent from 2006 to 2011.
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You asked, and we answered. A Pittsburgh startup company is introducing a new way to look at homeownership, and it’s creating quite a stir.
For years, the financial services industry has been asking the Consumer Financial Protection Bureau to address what the industry views as ambiguity surrounding the bureau’s regulation of “abusive” practices. And now they’re getting their way.