As one of the cities most effected by the housing crash, one would think the recovery of Phoenix's real estate market would be cause for widespread celebration. But a confluence of factors is making it hard for many to find a place to live.
“'It’s hard to find a lot of fault with the recovery in Phoenix,' said Daren Blomquist, vice president at RealtyTrac, a California company that tracks housing sales, reciting a list of positive indicators, like the area’s shrinking inventory of foreclosures, its healthy population growth and the steady decline in the number of homeowners who owe more on their mortgage than their property is worth."
"But those changes have brought a whole new set of challenges," reports Fernanda Santos.
"Developers, discouraged by the high price of land and a shortage of construction workers, who left for greener pastures during the crash, are reluctant to build starter homes, the type most in demand. Prospective sellers are waiting to see if surging values will keep on climbing before they list their properties. Meantime, prospective buyers, including many newcomers drawn by new jobs in the state, are having a hard time finding a place to live."
FULL STORY: Real Estate Boom in Phoenix Brings Its Own Problems

Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.

North Texas Transit Leaders Tout Benefits of TOD for Growing Region
At a summit focused on transit-oriented development, policymakers discussed how North Texas’ expanded light rail system can serve as a tool for economic growth.

Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.

Santa Barbara Could Build Housing on County Land
County supervisors moved forward a proposal to build workforce housing on two county-owned parcels.

San Mateo Formally Opposes Freeway Project
The city council will send a letter to Caltrans urging the agency to reconsider a plan to expand the 101 through the city of San Mateo.

A Bronx Community Fights to Have its Voice Heard
After organizing and giving input for decades, the community around the Kingsbridge Armory might actually see it redeveloped — and they want to continue to have a say in how it goes.
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