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    me sales in the Phoenix metro area involved speculators.

    The market cooled in 2006, just as in every other a

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    Arizona has been booming for so long that sustained high growth seems like a permanent condition. The sale and resale of homes in the market have done a lot to drive the economy in the state – According to the Arizona Republic, real estate is the largest segment of the state’s economy. Because of the sustained growth in the Arizona real estate speculation has become a major component of the market there. According to Freddie Mac, in 2005 35% of all home sales in the Phoenix metro area involved speculators.

    The market cooled in 2006, just as in every other ar

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    sale of homes in the market have done a lot to drive the economy in the state – According to the Arizona Republic, real estate is the largest segment of the state’s economy. Because of the sustained growth in the Arizona real estate speculation has become a major component of the market there. According to Freddie Mac, in 2005 35% of all home sales in the Phoenix metro area involved speculators.

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    real estate is the largest segment of the state’s economy. Because of the sustained growth in the Arizona real estate speculation has become a major component of the market there. According to Freddie Mac, in 2005 35% of all home sales in the Phoenix metro area involved speculators.

    The market cooled in 2006, just as in every other a

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    tate speculation has become a major component of the market there. According to Freddie Mac, in 2005 35% of all home sales in the Phoenix metro area involved speculators.

    The market cooled in 2006, just as in every other a

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    me sales in the Phoenix metro area involved speculators.

    The market cooled in 2006, just as in every other area of the country. What did emerge in the area, however, is a high level of mortgage fraud. The market is full of people who are new to the brokerage business and looking to make a quick buck, much the same as the speculators that are involved in so many of the home sales there. The result has been a form of fraud that has inflated home values and put large numbers of consumers at risk.

    The scam works like this: an appraiser who is part of the f

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