I did read the whole article and found it balanced and informative. The Phoenix housing market is showing numerous signs of a bottoming out process, and I’d be an investor or owner-occupier there way before most anywhere in CA.
What Phoenix, and most of AZ has going for it that CA does not is demography. It still is the destination for retiring baby-boomers from the cold Midwest and East Coast, who now have the added incentive of a cheap Phoenix house or condo to buy. While CA drives taxpayers and businesses to neighboring states, AZ’s more sane government and lower cost of everything will attract them. California’s demographics are now changing rapidly and attracting tax users and pushing out taxpaying middle and upper income types.
CA will always have its weather and enclaves of the rich. But for economic and demographic reasons, its long-term prospects are bleak compared to other areas of the country.
