Oh, Are Foreclosures Up?

A corner in Phoenix, Arizona

Hand me a pacifier. The home foreclosure rate in Phoenix, Arizona is up 168% from some time a year ago due to the overinflated real estate bubble that landed hardest in California, Florida, Las Vegas, and Phoenix. So I can’t help but wonder if our low gas prices are acting as a pacifier for the bruised pocketbooks of Phoenicians. While this station is selling gas for $2.75 a gallon, another down the street is selling for $2.63 while Nebraska folks are paying $3.22. What really doesn’t make sense though is that oil is selling for $76 a barrel and the price of gasoline keeps going down, I wonder what surprise is in the works.

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