[Howie Fischer seems to be dabbling in Arizona real estate… journalism. I thought politics was his beat.]
Phoenicians love to tease us Scottsdale folks with “Snottsdale” quips. This article shows that we are but a simple, (house) poor people.
Around the East Valley, it appears that Scottsdale home buyers are the ones most likely to stretch their dollars. There, nearly 22 percent of those with mortgages were paying at least 40 percent [of household income].
Mesa followed at 19.7 percent, with 17.9 percent of Tempe homeowners paying that much each month. In Gilbert, the figure was 16.5 percent.
Don’t cry for me Tempe.
3 responses so far ↓
1 Shailesh Ghimire // Sep 13, 2007 at 10:07 am
This is interesting. Maybe the lure of living in Scottsdale is so high that peope are willing to do it even if it means it will be a streatch.
That’s the positive side at least.
2 John L. Wake - Realtor // Sep 13, 2007 at 12:57 pm
Or maybe the average income is so high in Scottsdale that they can spend more on housing and still have plenty left over for meat and potatoes.
3 Arizona Mortgage Guru » Blog Archive » Monthly Mortgage Payment as Percentage of Income // Sep 13, 2007 at 5:06 pm
[…] Arizona Real Estate Notebook asks “Is Scottsdale House Poor?” The question of course is relevant in light of the recent report in the East Valley Tribune […]
Leave a Comment