Why Arizona Housing Bubble Will Not Burst

Rising housing values in Greater Phoenix may remind us of the recent speculative bubble of Wall Street, but there is reason to be optimistic.

1 minute read

April 18, 2003, 8:00 AM PDT

By Ambar Mukherjee

"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."

Thanks to Ambar Mukherjee

FULL STORY: Why Valley won't get soaked by housing bubble

Thursday, April 17, 2003 in The Arizona Republic

Housing Arizona

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