By Diana Olick | CNBC.com
Phoenix is a lesson in housing abuse. From boom to bust, to recovery to relapse, Phoenix housing is forever rising and falling, and now it is falling again. The rest of the nation should take notice.
“We tend to be a little bit more extreme, more volatile than the rest of the country, but usually if a trend is going to occur, it occurs first in the outer suburbs of Phoenix and then in the middle of Phoenix and then in the rest of the country,” said Mike Orr, director of the Center for Real Estate Theory and Practice at Arizona State University’s W.P. Carey School of Business.
