Housing: A Long Way From Normal
Remember suburban Phoenix, home of empty subdivisions with green swimming pools and roving coyotes? It’s booming again. A house in Glendale got 95 offers and eventually sold for 17 percent above the asking price. “This is not something we would see in a normal market,” says Michael Orr, director of the Center for Real Estate Theory and Practice at Arizona State University’s W.P. Carey School of Business.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.