Out of curiosity I pulled up a real estate search of the most expensive homes in Arizona, to see if the sellers are still smoking crack with their asking prices or if they've come to accept reality yet. (Most are still on crack.)
What's most interesting though is the first couple of pages of multi-million dollar homes all have Phoenix addresses - Biltmore, Arcadia, Camelback, North-Central, etc. Then you start seeing all the Paradise Valley listings next.
Scottsdale doesn't even begin to show up until several pages into the search results.
So much for the "most expensive" and "you can't afford it" bullshit the Scottsdale phonies love to wave around.