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Description: Remember suburban Phoenix, home of empty subdivisions with green swimming pools and roving coyotes? It’s booming again. A house in Glendale got 95 offers and eventually sold for 17 percent above the asking price. “This is not something we would see in a normal market,” says Michael Orr, director of the Center for Real Estate Theory and Practice at Arizona State University’s W.P. Carey School of Business.

Source: Businessweek.com

Date: July 26, 2012

Link: http://www.businessweek.com/articles/2012-07-26/housing-a-long-way-from-normal#r=nav

Questions for Discussions:

  • Summarize the activity in real estate markets today.
  • What does all of this mean for homeowners, builders, and investors?
  • Would you be a buyer of a home building company today?

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