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Old 08-16-2019, 12:56 PM
 
Location: Planet Earth Milky Way
1,424 posts, read 1,297,641 times
Reputation: 2797

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Arizona Leads Nation In New Mortgage Debt | KJZZ
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Old 08-16-2019, 01:55 PM
 
9,197 posts, read 16,703,863 times
Reputation: 11339
What's the point you're trying to make?
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Old 08-16-2019, 01:59 PM
 
Location: Planet Earth Milky Way
1,424 posts, read 1,297,641 times
Reputation: 2797
Quote:
Originally Posted by DetroitN8V View Post
What's the point you're trying to make?

Read the article. It has the point.
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Old 08-16-2019, 05:43 PM
 
Location: Phoenix
30,778 posts, read 19,433,058 times
Reputation: 26570
Quote:
Originally Posted by lluvia View Post
Read the article. It has the point.
I think it's:
1) Arizonans are smart to take advantage of lower interest rates and housing appreciation...but
2) The risk is that when the next downturn happens, you could have the same type problems that occurred 2007.
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Old 08-16-2019, 06:05 PM
 
9,197 posts, read 16,703,863 times
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Quote:
Originally Posted by lluvia View Post
Read the article. It has the point.
Not really. It’s just stating what’s going on. So, what is the point here that I’m apparently missing?
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Old 08-16-2019, 11:32 PM
 
2,360 posts, read 1,455,618 times
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Quote:
Originally Posted by DetroitN8V View Post
Not really. It’s just stating what’s going on. So, what is the point here that I’m apparently missing?

Re-read post #4, point #2, that is your answer.

The Great Recession wasn’t that long ago, and the economy never truly recovered from it. The entire country was effected, but the western states like CA, NV, AZ crashed especially hard. It could easily happen again.
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Old 08-17-2019, 08:27 AM
 
Location: Gilbert, AZ
1,700 posts, read 1,299,191 times
Reputation: 3744
I think we need to ask Paul Atkinson and Steve Goldstein what the point is. They wrote the article. OP is just passing along the information.
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Old 08-17-2019, 08:59 AM
 
Location: Chandler, AZ
4,073 posts, read 5,188,174 times
Reputation: 6170
Naw, I am agreeing with DetroitN8V on this one...So what? Interest rates dropped and if you can re-fi down a point it is worth it. Did people pull money out of their home value or just re-fi? The sensationalist numbers of total mortgage debt is relative to each state. We grew by $1.25B...okay...people bought homes, either new or previous owners sold for more than they owed and appreciation or re-financed and took out some equity.

As far as "The Great Recession" and the economy never recovering from it...who told you that? Have you watched the stock market? DJIA is up over 18k points since 2009. The Unemployment rate is at the lowest point in over 50 years. What economy are you looking at?
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Old 08-17-2019, 09:31 AM
 
9,197 posts, read 16,703,863 times
Reputation: 11339
^exactly. I’m still wondering what the OP is trying to point out by sharing this. The economy is strong, rates are low, people are taking advantage of better pricing and refi’ing. Again, so what?
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Old 08-17-2019, 10:27 AM
 
Location: Southern Arizona
9,603 posts, read 31,778,136 times
Reputation: 11741
Depending on more general details . . .

Very possibly a POSITIVE. Implies individuals are relocating here for the long haul as compared to just "passing through."
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