By: Taylor Seely and Alexandra Hardle | Arizona Republic
On Thursday, Gov. Katie Hobbs’ announcement that groundwater supplies are short of what’s necessary to serve existing commitments for the next 100 years made national headlines, raising worries about the viability of the region. Zillow, the national housing technology company, issued a formal statement.
The news could deepen the state’s housing shortage and affordability problems. It could deter, rightly or wrongly, prospective out-of-state employers from coming to the Valley if they believe the area is unsustainable or that enough housing won’t be available to accommodate their workforce.
Elected leaders, city officials, water experts and housing industry representatives reacted with mixed emotions, ranging from excitement, frustration and caution.