Quote:
Originally Posted by Chef
If this is driven by people who already live in Phoenix, Sacramento and Riverside becoming wealthier than it is a good thing. If they are staying the same and it is driven by people with money moving then it will probably just make these communities more economically dysfunctional.
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I cant really speak for Sac or riverside
Phoenix is not economically dysfunctional at all, its actually very functional right now but the recent spike in housing prices is something that needs to be fixed.
We have virtually no limits on development so I expect it to self correct with plenty of apartment, build to rent, and traditional suburban master-plans all trying to build at a break neck pace. But especially over the last two years to pricing is way out of wack