Phoenix Arizona Has Become HELL | Full Tour of The Collapse 

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

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

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.

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.

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.

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

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

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.

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

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

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.

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

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

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

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

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.

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 plus......no more. Life is not hard, people just make it hard for others.

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..

Before you move to Phoenix, spend some time in the summer there.

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.

I warned everyone in Phoenix, AZ about the water crisis and saw how many apartment buildings were going up, all of the corporate landlords buying up entire neighborhoods ala Blackrock, AMH Homes, Invitation homes, Open Door, Redfin, Zillow and many more ibuyers. I saw what was coming to head, the new governor katy hobbs halted new permits, they have the water crisis, homeless crisis, job crisis and crime on the rise all the while living in a desert in an average of 113 degrees of burning skin melting dry heat for 8 to 9 months out of the year. I sold my house in the fall of 2023 after purchasing it in the fall of 2019 because the equity exploded and It was a no brainer to cash out and move out of this god forsaken place before it imploded.

I have lived in Phoenix since the 1950’s and it has become an extension of California. Add the blue politics and it’s lost its appeal!

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

My husband works construction on the apartment. He calls them chicken coops. They're so tiny that they're removing the living and dining rooms from apartments. They're studios for $2k a month. I do pray they rather rot.

I live in Phoenix and have rented from the same landlord for 25 years but he died Jan 1st and I'm not sure how long his kids will hang on to the properties before they sell. There is literally nowhere else I can afford to live. And rent goes up every single year (as well as everything else, utilities food, ect) I don't know how people are surviving. And the amount of ugly poorly constructed "luxury living" apt complexes that going up daily is destroying the look and feel of Phoenix. Like I used to love living here and I really don't anymore

You will own nothing, you will have nothing.

113 Degrees daily. 100 Degrees at Midnight in the dark. Electric Bills $$$$$$$$$$.

Prices will keep going up until we refuse to pay or completely run out of money. What a terrible life, work two jobs including weekends for what? Seriously, are we so trapped in our phones to realize our life passing by making money for someone else.

Yep. I bought my house in Surprise in 2019 because of the lack of apartments and rentals here. All they do is bring crime and run everything down overtime. Now there are apartments and rentals popping up left and right. On top of that, I originally had a nice military family who owned next door to me. Well, he got stationed somewhere else, and had to sell his house quickly. Yep, a bank bought it to rent it, and now I have renters next-door to me who have weeds growing out of control in the yard, and they leave their trash cans out on the street the entire week. Let’s just say I can also hear their smoke alarm chirping. I’m definitely bailing out of here before it becomes a total shit hole. I’m getting tired of buying weed killer and using it on the neighbors yard :(

That's why there are supposed to be rules against monopolies in this country.

They will all be coffins when the power goes off and the water is gone.

People need to stop renting from the hedgefunds. Lets teach Wall St a lesson.

When the SHTF the lights go out and *water* stops running... Get out while you can.

Pray for this to be stopped, its not sustainable for working class families.

Been living here my whole life, you are 💯 right on who can afford these homes!!!! It's overcrowded

Graduated ASU and left. No reason to work in Tatooine 😂

They're "cell blocks".

I live in the South East Valley and its out of control, and they are trying to get 3k a month and no one can afford that either. They are building like crazy and still trying to get 650K for these cookie cutter homes

i wish all these people would find another state to move to. And it seems crazy to build in a state where there is a water issue. They even stopped building permits awhile back.

I don’t recall who said that, but I hear ya pound and clear!!! “You will own nothong, and you will like it.”

PRAY 🙏 for me. Border jumping into mexico 🇲🇽. Hopefully i dont get deported back to the USA.

Facts. Every empty lot has construction going on. It's nuts. Congestion is insane.

US is becoming more like C.h.i.N.A * thousands of empty buildings and millions of homeless folks 😮

This why single family detached homes should not be allowed to be purchased by corporations! Imagine all the homes which would become available.

Traffic is crazy, Amazon got several huge warehouses down there .

That is why Californians have been living on the street in vans and tents. $5000 a month I could buy a Prius to sleep in.

There's not enough hospitals, schools nor officers/firefighters to accommodate the new builds. Education is already poor, law enforcement is already understaffed. Phoenix is a hell hole. On top of all that. Average temp. Is 110 degrees

Yeah I live here. So many apartment homes for rent instead of for sale. My rent for a 2 bedroom apartment 6 years ago was $800 a month now they’re over $1900 for the same apartments.

And to think between 2008-2010 you could buy a resale home that was 4-5 years old for $80,000 to $100,000.

I live in Phoenix, these apartments started growing like a virus. There are waaaayyyy too many. If this doesn't bring rent down, I don't know what will. They are all starting to finish at the same time. Now I'm seeing discounts and free months just to get people in.

Come over to Surprise, Arizona and you'll see mega communities being built. A lot of them for rent only.

North Surprise, AZ is building like crazy. Houses, apartments, retail, restaurants, and warehouses along the 303. Traffic in the area is ridiculous, the citizens have requested the city to stop issuing building permits for housing until a solution can be made for the congestion.. Grand avenue exit from the 303 freeway is a nightmare, Bell rd exit is the same way, the traffic in the area gets so bad it backs up onto the freeway. If an emergency happens and they shut down the road, there is no other road to get to the homes that are located northwest.

The world is getting ready for the new arrivals 👽

I live in Phoenix. I can confirm it is a nightmare currently trying to leave.

I traveled back home (Phoenix) a year and a half ago and saw so much construction and building everywhere I went. It has never been like that in all my childhood and through my teenage years and I traveled the valley often. They are currently gentrifying the entire area without people realizing it. They did the same thing here in Oregon (Eugene) where I have lived the past 10 years. Crazy how everyone’s greed can make them miss the big picture.

AZ Native here...Love my State ...This is also in part due to NO PROTECTION FOR AZ NATIVES who built this economy by our hard earned TAX DOLLARS 1/3 of MY INCOME. Now i cant BUY MY FAMILY A HOME in my own home town because. WE CANT AFFORD IT....WHERE IS The Protection like other states......wheres Gov. ?? They planned for this ...its working perfectly :(

It won't do the banks any good to jack up rents when no one can afford them. People will cohabitate or become homeless to eat, few will be able to afford the luxury of renting their own place and real estate prices will collapse.

My gut wrenches when I drive by 68th st and McDowell

Born and raised in AZ. My wife and I are in our mid twenties with a child, and we can attest that owning a home isn’t even an option for the foreseeable future. Even renting a decent apartment is expensive. Cost of living is going up, even in places where *quality* of living hasn’t improved. One thing AZ does have going for it is substantial economic growth and opportunity for those who recognize it and are willing to work for it.

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

Rent prices are falling???? In Phoenix???? In Scottsdale???? "I'm from Missouri!" Show me! I see absolutely NO evidence of rent prices falling to more reasonable levels in the Valley of the Sun.

Hey, thanks for visiting phoenix az. It's getting crazy over here!!!

How is this still legal in America? How is Amazon not considered a monopoly yet? What are we doing about this?

They are destroying Gilbert fast as hell!!! I am watching the store slowly have to install stuff to make sure people are not stealing..... homeless people are slowly making their way into Gilbert when just one year ago, I never even thought about my kids being outside. Now I am making sure they are home before street lights come on.

A bigger picture is likely at play, thus requiring a bit of critical thinking beyond the basic metrics' reasoning of old. We know what we know, but not what we don't know. Thus, something far more complex is like in the making.

I went to high school in north phx. Boy has that place changed since class of 89'.

They are getting ready for the universal basic income!!!!

Something I thought was weird was building rather large single family homes for rentals in bad neighborhoods with crappy schools. Who would want to rent there?

There are entire subdivisions being built right now, in Prescott, Arizona. These are single-family homes that are not being sold to families, they are being rented out to families. And you had to be making over a certain amount per year to qualify for renting one of these homes and it is leaving out a lot of Hispanic and black families. Arizona is turning into Potterville and so is the rest of the country. This needs to stop.

33 months there's that number 33 again if you start looking for it you'll find it everywhere

Living in AZ, we see communist-style housing a.k.a Gettos being built all over Phx! Thank you for doing today's episode to show how it is.

If you dont own your home (cash) with low taxes and insurance, people will be screwed. Modern slaves.

As a past resident - What ever happened to the 'urban sprawl' they complained about and the water shortage issues from back in the '80's? Last time I was in Phoenix it was pitiful ... all the little towns are connected - Mesa, Tempe, Glendale, used to go into the country to get to Luke AFB and Apache Junction .... So sorry to see that ....

I couldnt afford my home in gilbert az today; luckily we got it in 2015

In a communist system, people live in these types of dwellings. That is why you see more and more and more of these being built in all the major cities. The DCP is simply prepping to place the populous.

The amount of traffic is crazy right now. Just wait until everyone wants to drive to work at the same time. Cause chaos then give the 15 minute city's solution

"...looking at it as a Capitalist." That's not a Capitalist. That's a Feudalist.

There is "projects" being built on every corner here in Reno NV also..unbelievable! Too crowded for me. I'm ready to get out..

If you can buy you should buy always. The only kind of real wealth I have ever made in my 43 years of life was from my homes I own. For a regular person it's a no brainer.

I live in Tempe AZ they have built apartments all over so they can stack more people on top of each other and take half their income

Same with AMZN. Pushing all the small businesses out of the market. However, now they have TEMU and SHEIN to compete with!

I don't know where they are going to get water. They are always crying about it now. 🤔

The new book, The Bubble That Broke The Bank, argues that the magic happens in 2026. The grand illusion will create a bubblequake heard around the world.

All these apartment houses need to stop it’s disgusting

Salt Lake Metro is doing this too. All the new construction over the last 4 years belongs to large corporations and is just for rent.

Got my lay-off notice, last week. Build Back Better

World economic Forum says You will owen nothing and be happy. Remember folks 15-minute cities are about!

I love Arizona, left Louisiana to go to school here and moved back because I was so in love with the state and the friends I made. I'm likely moving back to southern Louisiana because prices are reasonable and well, it's probably the hurricane seasons and humidity that insulated us from massive populations moving in. They won't build such nonsense if there's not a prospective market.

Lucky we have all this extra water!! Maybe they can build a data center next that also doesn’t require tons of water 🤦‍♂️

I moved to phoenix in 2021 and bought a house. One of the best decisions I've ever made! But yes most everything being built is for rent at this point.

Cannot wait to hear the new definition of affordable.

Jesus Christ! Look at that cardboard cheap construction! Are you kidding me? 2 by 4s, stapled together, and then Tyvec slapped on? Plus really badly insulated. You can punch a fist through the walls in these houses. I am from Europe, and we laugh about that shoddy construction method in the U.S.! Yikes, how can one live in something like that even? And, the ultimate insult, pay hundreds if thousands of dollars for that crap?

This is insane! I live in Peoria with my wife and children and whenever we leave the house we see what once was a dirt lot turning into these dystopian tiny bungalows thats right on top of each other, hundreds of them. Same company, same design. I wanna move from the city… I’m just over it.

I’m renting in the area you were at by Parkwest because I can’t find any homes to buy and the ones that are - are completely outrageous on price.. I’m renting a home built in 1984 and it’s listed on Zillow for $450,000. I moved here from the mid west for a job in the tech industry but with the rising cost of living here I’m starting to contemplate leaving for greener pastures. This state is absolutely insane to me. Everything is more expensive here! Even gas! You can’t catch a break in this city which make me wonder - who is affording this?! I am lucky to have a job that allows me to live on my own but every single on of my friends has at least one roommate just so they can get by with enough money for bills! It’s outrageous that at 30+ years old - with good jobs you can’t afford to live without a roommate. 😢

Tell me is anybody else getting multiple phone calls every single day, asking you if you want to sell your house?

Houses being built in the Phoenix area are mostly wood construction. And what they do NOT talk much about is the number of termites found in and around the valley. Do they spray new home lots for termites? Yes. Does it protect the home for it's entire useful life? NO! It's not IF your home will become at risk for termite infestation, it's WHEN will your home become the next target for a community of subterranean termites.

Probly for all illegals...

Purchased a house 4 years ago. Thank god. Shit ain't right. Can hardly drive on the roadways now without massive backups...too much demand now = prices go insane. Good LUCK California 2.0

I live in phoenix and own a home (85018 zip) - we bought our house in 2013 for $300k - our home is now worth just shy of $1.5 million. Its totally unsustainable to have this type of price increase. I get 5 calls a day of people wanting to make a low ball cash offer on our house. It needs to stop

I'm in Sacramento and my house I bought for $123K in 1999 is worth $480K now, no major renovations