I just saw this story on the Phoenix Business Journal website. It says that Phoenix ranked 55th out of the top 200 metro areas of Forbe's list of the Best Places for Careers and Business. The story says that the main reason for this nosedive is rising home prices in the area.
Also further down in the article it says that Phoenix is now in the top 10 for job growth. This is fantastic since in my estimation jobs is the key barometer that drives Real Estate.
What do you think drives Real Estate? I know states that have lots jobs have had tough Real Estate markets. Do you have stories and hard facts from your local market which can support or debunk this?
Please share because I'm really curious to learn more on this topic especially from those in different markets.
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