July 20, 2012
5 years into the housing crisis weeds grow through the cracks in the unfinished and expansive middle-class neighborhoods.
Many of the developments on the outskirts of Phoenix stretched into what use to be farm land stopped in 2008 as the housing market collapsed and money dried up.
Currently in Phoenix many banks and investors are holding properties and waiting for prices to rise to turn a profit. This depletes the amount of homes on the market and any need for home ownership is harder to find artificially driving prices up in Phoenix by as much as 20% in the past months.