I just don't get your obsession with property values in Phoenix, and what that has to do with the price of tea in China. Your attempt at an underhanded slight actually demonstrates a lack of understanding. Show me a market that has not declined since the housing crisis and loan debacle to one degree or another. But pretty irrelevant unless you are selling your home. And even then, assuming you are buying in the same market, your next home will be at a similar discount. It's all relative. The only people that really are affected are those who can't get a loan, and those who have negative equity or stuck in an interest only scheme facing large increases. Perhaps someone in dire need of a home equity loan with no equity left. (Would that be you?) Beyond that it's all paper loss, and is pretty much affecting everyone in this country similarly.
Has anyone here indicated they fall into any of those categories? If not, your comment is pretty worthless even as a jab.
I built my current home in 2006, just as building costs of lumber, tar, shingles, copper, delivery costs, and just about everything else peaked after Katrina in 2005. I also sold my previous home just after the peak. See? Relativity. I also had enough sense to mortgage a very low percentage of my home's cost. (live within one's means) So home values are nothing but a blip on the radar. They went down. They went up. Didn't change a thing. In fact the crisis made it possible to refinance twice and lower my costs further while also shortening the term of my mortgage. Banks were desperate for business of low risk customers.
Now, are you one of those guys who has lived beyond your means and relied on the equity in your home to support you lifestyle? (quite possible after living on LOA93 for so long) Do you assume others do the same? If not, and you are going to tell me that you have your ducks in a row and are "doing fine" then why do you assume others do not? Again, what does any of this have to do with the price of tea in China?
Believe me, housing prices in Phoenix, Philadelphia, Charlotte, NY, or anywhere else have absolutely nothing to do with your seniority integration, lack of a contract, outstanding law suits, your attempt to avoid final and binding arbitration, or the eventual resolution to your situation.