By Brent Ruffner | Your Valley
The answer to the Valley’s housing shortage is complicated, according to a real estate expert at Arizona State University.
Mark Stapp, executive director of masters of real estate development at Arizona State University, said not enough rental units in the Valley is a regional problem that needs to be dealt with at the local level and beyond.
“This is a regional problem,” Stapp said. “It requires a regional solution.”
According to the Arizona Department of Housing, an estimated 250,000 to 270,000 new housing units of “all types” are needed statewide to meet current demand.
In the meantime, rents in the Valley have skyrocketed to levels that could become unsustainable over the long haul.
