By Catherine Reagor | Arizona Republic
Homebuilding across metro Phoenix is expected to hit a 14-year high this year, and apartment construction is at a near-record pace.
Still, the Phoenix area is in the midst of a growing housing shortage that’s pushing up home prices and rents, leaving many people with too few options to find a place they can afford.
Housing needed now for the Valley’s fast-growing population is taking longer to build because of labor and construction material shortages. Both are costly problems for builders, buyers and renters.
