I read this article in the WSJ today. It's a great primer on the Phoenix housing market and the forces that have helped shape it over the last few years. The article goes into some depth about why big money is attracted to Phoenix and how they use my market as a test lab.
The take away for my clients and customers is a snapshot of what is to come in other markets across the country. It is also an indicator of why investing in Phoenix might not be such a bad idea in terms of Real Estate. As housing markets go we are one of the easiest to get into and out. Also, why is Wall Street investing here so heavily? What do they see that most folks do not?
For my fellow Realtors, it is a reminder that change is constant in our industry and this too shall pass. One of the interesting ideas bouncing around in my head is the concept of real estate brokerages becoming market makers vs. facilitators of real estate. Could that be our future?