The Dealmaker: 10/31/2017

Some cities entering bubble territory, Phoenix included; “absurd” says real estate consultant Jim Belfiore. “The Urban Institute’s Housing Finance Policy Center has just released a new blog that ranks the 37 largest metropolitan areas on a ‘bubble watch’ scale” — and Phoenix-Mesa-Scottsdale is on it. But Jim Belfiore bursts the Urban Institute’s bubble: “More than 66% of households in the Metro Phoenix Area could afford to purchase a home in the second quarter 2017. In many nearby California Metros, the percentage drops below 25%… The suggestion that the Metro Phoenix Area should be on a housing bubble watchlist is absurd to this analyst.” Much more pushback from Jim, plus a link to the full Urban Institutereport (via Builder), at Rose Law Group Reporter. http://bit.ly/2A44NaK

David Weekley Homes bringing 72 energy-efficient homes to Cadence at Gateway community. As the fifth homebuilder at Cadence at Gateway in Mesa, DWH is bringing its EnergySaver™ homes with “a range of flex space options.” ?(NOTE: The preceding emoji with strikethrough has been included for anyone who might be under the mistaken impression that “flex spaces” are rooms used exclusively for bodybuilders to practice their posing.) The neighborhood will consist of “one- and two-story family homes with lot sizes of 58 ft. x 125 ft…” More on the new community in Rose Law Group Reporter. http://bit.ly/2zmewML

Prescott City Council’s study session will focus on one topic: Deep Well.The Daily Courier reports that today’s 1 p.m. study session for the “1,800-acre [10,500-unit] Deep Well Project… likely would include a review of a number of aspects of the project, including the existing zoning and what it allows; the developers’ request [for the Airport Specific Area Plan text amendment]; the Planning and Zoning recommendation; and the project’s existing water rights.” Tap through for details. http://bit.ly/2yjaftm

The numbers don’t lie: Tracking nationwide mortgage delinquency. On Monday, the Consumer Financial Protection Bureau launched a Mortgage Performance Trends Tool…” CFPB Director Richard Cordray describes it as a “rich information source” that “identifies mortgage delinquency rates down to the county and metro-area level…” (The tool shows Arizona as one of the states with “vast improvement since the housing crisis.”) To check it out, tool on over to DSNews. http://bit.ly/2zme3tP

Council OKs 2 measures to fuel Scottsdale Airport reconstruction effort. “The approval of a three-year contract for planning services and reconstruction for taxiway ‘A’ were included in an Oct. 17 Scottsdale City Council consent agenda, passing with a 7-0 vote… [T]he reconstruction [is for] taxiway ‘A’…” Details on cost and the company undertaking the project, in Scottsdale Independent. http://bit.ly/2z7Drm4

Chandler pushes for more development at its airpark. “About two-thirds, or roughly 3,300 acres, of the Chandler Airpark is developed or under construction. That leaves some 1,600 acres available for growth… James Smith, the city’s economic development program manager, calls the swath… the city’s ‘last frontier.’ ” AZCentral. http://bit.ly/2hrEXWu

Pollack: Data scant but significant. So significant that, according to the Monday Morning Quarterback, it “suggests that the next year could see a continuation of what is now a 100-month old expansion, the third longest recovery and expansion in U.S. history.” And MMQ backs up that assessment with data for these Snapshots –> U.S.: Hurricanes Irma & Harvey’s Impact on GDP,  Consumer Sentiment (w/ chart), New Orders, New Single Family Home Sales. AZ: ABI Multifamily – Unit Completions, Under Construction, & Planned – Greater Phoenix. http://bit.ly/2xHxb1a

Valley Metro: Should light rail or another transit option serve Fiesta Mall area? “Valley Metro is evaluating whether light-rail, rapid transit bus or modern streetcar could be implemented in Mesa’s Fiesta District… [It’s] the beginning of what could likely be a long process, according to Jodi Sorrell, Mesa’s transportation director. ” AZCentral. http://bit.ly/2yiFzs2 

Apache Junction City Council mulls Town Hall comments, vision & mission. Apache Junction & Gold Canyon News has an overview of a recent ‘work session ‘retreat’ at which (among other things) “council reaffirmed the current council work plan that includes continuing to work with the state and Bureau of Land Management on acquiring new property in the city, a continued effort with land owners in county islands to bring them into the city and continued work on the permanent base adjustment that would finally take Home Rule off of [the] ballot every four years.” http://bit.ly/2iQAOix

WalletHub’s Best Small Cities in America. WalletHub analysts compared more than 1,200 U.S. cities with populations ranging from 25,000 to 100,000 based on 33 livability metrics.” To find out how Arizona’s small cities fared (22 are on the list) head to Builder, and then tap through to WalletHub. http://bit.ly/2gXWTeq

Cameron’s $5M + deals of the day – http://bit.ly/2xHdPc8

Indictments, you say? Arizona members of U.S. House quiet on Russia investigation.“Only four of the state’s nine U.S. House members acknowledged on social media the news that dominated the headlines Monday: Robert Mueller’s investigation had yielded a guilty plea and a pair of indictments.” AZCentral. http://bit.ly/2yiY7bC

Maricopa County school bonds, overrides: What’s on the Nov. 7 ballot. “This year’s bond and override proposals would help fund construction of new schools, new school buses, teacher pay and programs such as full-day kindergarten.” AZCentral has full details on the bond and override initiatives for 22 school districts in Maricopa County. http://bit.ly/2z0zY9B  

5 ways SB 1070 changed Arizona: A reading list. “[W]hat has SB 1070 really meant for Arizona?” Phoenix New Times has the links and summaries to “five in-depth stories about how the state’s political climate has changed since 2010, for better or for worse.” http://bit.ly/2iPrLym

Chase Field dispute continues, no performances at venue in over a year.“[I]t’s been more than a year since the last major performance there.
Does that mean Chase Field is bad at hosting concerts? That’s what the Arizona Diamondbacks say. It’s a key argument in the team’s lawsuit against Maricopa County, which questions the 19-year-old stadium’s structural integrity and seeks freedom for the team to find a new home.” AZCentral. http://bit.ly/2iMOB9L

This is the tunnel Elon Musk is building to solve L.A. traffic woes. “On Twitter, Musk recently shared an image of a tunnel in L.A. from The Boring Company, part of a plan to create an underground transportation system. Musk said the tunnel is 500 feet so far, reaching two miles long in about 3 to 4 months. The goal is to stretch along Interstate 405 from Los Angeles International Airport to U.S. Route 101 in a year.” Check it out in USA Today. http://bit.ly/2gPF25I

Scientists begin to study how mental illness evolved. “The big question: How did mental illness arise and develop — and what causes it to persist?” Axios takes a look at “[s]ome of the most interesting findings so far…” http://bit.ly/2ik7ltF