QUEEN CREEK, Ariz. - Out on Phoenix's suburban fringes, where cement mixers are fast colonizing what's left of the hay and cotton fields, the day is winding to a close. The home hour has arrived.
But sundown gives away a troubling secret: Behind dark windows and many unanswered doors, it's clear nobody is coming home.
"The sales person was saying that they (homes) were going up $1,000 a week," Dave Gustafson recalls. "So when we came to look, we signed right away."
Builders made it easy. A downpayment of $2,000 to $5,000 was all it took to get started. Buyers could borrow at low teaser rates, requiring payments of nothing more than interest.
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But sundown gives away a troubling secret: Behind dark windows and many unanswered doors, it's clear nobody is coming home.
"The sales person was saying that they (homes) were going up $1,000 a week," Dave Gustafson recalls. "So when we came to look, we signed right away."
Builders made it easy. A downpayment of $2,000 to $5,000 was all it took to get started. Buyers could borrow at low teaser rates, requiring payments of nothing more than interest.
Premium Link Upgrade