Home Buyers Actually Camp Out Overnight

Many Valley homebuyers are camping out overnight to be one of the first in line when new home lots are released in a subdivision. The affordable housing product is in high demand and short supply. In one Pinal County subdivision along the Hunt Highway, more than 50 people were in line the morning for nine lots that were to be released that day. Some builders are turning to the internet to end the lines, notifying interested buyers via e-mail and putting them into a lottery for the home sites. Dr. Jay Butler at Arizona State University (ASU) doesn't think the home-buying craze will last too much longer, yet I (and many of my peers) think we are just beginning to correct to where prices should be for a place that has as much to offer as we do here in the Greater Phoenix area, also known as "The Valley Of The Sun". Dr. Jay Butler also said that home buying could begin to slow as early as this summer, primarily because of issues like rising gas prices, rising home values combined with stagnant paychecks, lengthening commutes to affordable housing and stricter lending policies.