A place with one of the harshest climates in the Southwest –- Phoenix -- records more days over 100 degrees than any other major city in the country. But climate models predict metro Phoenix, with its population of four million, will get hotter.
Here in John Larsala’s driveway, the view is bleak.
“You see our tree is dead,” Larsala said. “All these trees are dying because I can’t put water on it.”
The grass is dead too. In fact, there is no grass anymore.
An attorney for two Arizonans at risk of losing their homes asked a judge today to block lawmakers from taking 50 million dollars out of a special fund designed to help prevent foreclosures to instead balance the state budget.
Here's a turnaround worth noting: The housing market in Phoenix is emerging from a historic slumber. Foreclosures are down, and new home sales are re-energizing the market -- up 35 percent from a year ago.
Let's get down to street level, shall we? How 'bout Ravenswood Drive near Gilbert's eastern edge.
Ken Peterson is a Vice President for Shea Homes. We're in a development called Spaces. And listen to this, air compressors and nail guns all around us.
LAS VEGAS — The unending rash of foreclosures and falling home prices in Las Vegas continues to cause despair. But the same housing crisis is causing some investors to see opportunity. Home prices have dropped to 1990s levels, and many homes in the area are selling for below the amount it would cost to build them.
In fact, these Las Vegas homes are getting noticed from buyers all over the world.
Kevin Chu recently toured Las Vegas for the first time to check on his investment firm’s properties.