Why Arizona Housing Bubble Will Not Burst
18 April 2003 - 8:00am
Rising housing values in Greater Phoenix may remind us of the recent speculative bubble of Wall Street, but there is reason to be optimistic.
"Here, several economic fundamentals would prevent a catastrophic bubble burst. For example, long-range job growth has been strong. Also, profit margins for home builders in Greater Phoenix are so tight that any decline in prices would cause a pullback in building rather than a continued mania to build inventory. And, in real terms, housing is more affordable than a decade ago. So rates would have to rise significantly before consumers were deterred from buying."
Full Story:
Why Valley won't get soaked by housing bubble
Source:
The Arizona Republic, April 17, 2003
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