---
title: "How bad is the housing bubble burst? THIS bad."
author: "Christopher S Penn"
date: 2007-11-30
url: https://www.christopherspenn.com/2007/11/how-bad-is-the-housing-bubble-burst-this-bad/
categories:
  - "Rant"
  - "Real Estate"
---

# How bad is the housing bubble burst? THIS bad.

Just when you thought the real estate market couldn't get any more desperate: [![Housing bubble bursting ad in Craiglist](https://farm3.static.flickr.com/2293/2075152014_08ea3d9c21.jpg)](https://www.flickr.com/photos/financialaidpodcast/2075152014/ "Housing bubble bursting ad in Craiglist by Financial Aid Podcast, on Flickr")I don't know who to feel more sorry for - the person posting the ad or the sucker who buys a house in metro Phoenix, Arizona, where prices are falling on average about 30%. I guess it depends on whether you think US citizenship is worth $595K.