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Real Estate

Lack of housing supply may wreck Phoenix economy

Data: Since 2000, home cost has increased 233%

Low inventory and high housing prices are not just a real estate issue, one economist says, as the threat of economic development consequences across the Valley of the Sun grows more concerning.

However, one local Realtor says the housing inventory is bouncing back quickly and the Valley’s housing market may not be as doom-and-gloom as it was just three months ago.

Scottsdale is among Phoenix suburbs receiving advice to build more housing units — ones of every size and price — before the housing crisis gets worse.

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