Housing “Euphoria” Continues In Phoenix

"...,one of the mistakes that people made in 2005 was the belief that home "values" were rising, as Butler states. In fact, home prices were rising astronomically, but values were not. There was definitely a housing euphoria in the air that you would have had to witness to believe. I know agents were calling me constantly wanting to know if I was thinking of selling my house, asking if I knew anyone thinking of selling a house. All you needed to do to start a frenzy was to put a "For Sale" sign in the yard. Really. And not just in "choice" neighborhoods. "