Phoenix Housing Market

Marc Faber : I was in Phoenix the other day. Then, the taxi driver took me to the hotel, nice hotel, in Fairmont. And then he told me, "the person that I just drove before you—I drove him to a five-bedroom house". He told me, "he just bought it for $120,000". Where in the world can you buy a five-bedroom house for $120,000? I would buy it, live in one bedroom and rent out four bedrooms to concubines. - in Bloomberg  


Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.