Amen, Davejl. Furthermore, that part of AZ is way overbuilt and should have halted most all construction two-three years ago. The house pictured is just past the framing stage, meaning they probably broke ground for it a few months ago. The spigot should have been turned off long ago by the bankers–that’s their job. Builders will build if you give them money–the bankers and their economists are supposed to take the punch bowl away.
Looks like a populist anti-bank skreed by a NY Times journalist who, predictably, knows nothing about the industry.
