The Phoenix metro area in Arizona is facing an acute problem due to persistent drought that is gripping the region – the city has stopped issuing building permits for residential properties in certain parts of the city. This sudden move has caused some distress among builders and real estate agents in Phoenix, and the issue is currently under scrutiny by the local authorities.
This problem has been exacerbated by the fact that Arizona has been facing prolonged and extreme drought since the start of summer. The shortage of water has led to several restrictions being imposed, including the issue with the building permits. The current scenario is causing significant disruption in the housing market, as well as having an adverse effect on the state’s economy.
The key points of this issue are as follows:
• Arizona is enduring a widespread drought, leading to a shortage of water
• Because of the shortage of water, Phoenix has stopped issuing residential building permits in certain parts of the city
• This has created some concern among builders and real estate agents
• The drought and the restrictions of building permits are having an adverse effect on the housing market, and state’s economy
You can read this full article at: https://www.housingwire.com/articles/phoenix-building-restrictions-squeeze-construction-firms-and-agents/(subscription required)
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