I guess there’s a sucker born every minute indeed, or else one who moves to the Valley of the Sun that often. A mix of Phoenicians, smaller-level spec buyers and professional real estate investment groups think Phoenix can best overcome its massive housing bubble through spec buying of houses. (Four of 10 buyers are absentee.)
Call me crazy, but, this is indeed fighting fire with fire, in a state that will probably dry up in 20 years anyway.
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