04 Mar '13, 9pm

Phoenix suburban development rises from the ashes of the housing crash

Phoenix suburban development rises from the ashes of the housing crash

Bloomberg Businessweek/Screen capture For years, I have been writing that Phoenix is dead, that a city as dependent on distant water and expensive air conditioning and that was so much a part of the housing crisis could not possibly recover, and really, probably shouldn't. I have written that the great suburban experiment was a disaster, and agreed with Jim Kunstler that it was perhaps the greatest missallocation of resources in the history of the world. Now Phoenix is back, and it's party like it's 2005 all over again, with flips, no-look bids and multiple offers and all the wretched excess that was seen before the crisis started. It's covered in an article by Susan Berfield in Bloomberg BusinessWeek, innocuously titled A Phoenix Housing Boom Forms, in Hint of U.S. Recovery. I hesitated writing about this article because of the cover illustration, which I thought was incr...

Full article: http://www.treehugger.com/economics/phoenix-suburban-deve...

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