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kernals12:

--- Quote from: Max Rockatansky on November 01, 2022, 10:11:20 PM ---
--- Quote from: brad2971 on November 01, 2022, 10:00:19 PM ---
--- Quote from: Max Rockatansky on November 01, 2022, 10:07:02 AM ---There was plenty of in-state flippers back then also.  As an example my brother did a bunch of flipping until he got stuck holding six houses when the real estate bubble burst.  He along with his construction buddies (also from Arizona) pretty much all ending up declaring bankruptcy.

But hey, youíre the guy who didnít live through the era and has never owned a house in Arizona so that makes you an expert right?

--- End quote ---

I do apologize for apparently striking a raw nerve with some of my commentary on how metro Phoenix (and Las Vegas, for that matter) is about to have growth slowdowns in their future.

Now to be fair, the Howard Hughes Corporation is a well-funded development corporation that has been known to build freeways through their developments. Summerlin Parkway (in Las Vegas, now Nevada SR 613) famously comes to mind. And they could very well pay for much of the costs of building a four-lane freeway from I-10 up to the existing four-lane US 93 connection northwest of SR 89 near Wickenburg. I'm just...skeptical about Teravalis's full buildout prospects, especially when we're in the early stages of a huge transfer of housing from Baby Boomers to their Millenial/Gen Z children/grandchildren. And especially since, when it comes to moving, we as a nation, despite the last two years, are still in the lowest rates of moving in the entire post WW2-era.

--- End quote ---

To clarify, my last comment wasnít directed towards anything you said.  It was directed towards the a certain poster who has never owned a home much less lived in Metro Phoenix. 

I do agree that part of Teravalis will get built, how much though remains to be seen.  When Buckeye incorporated it grew substantially around the corridor I-10 and MC 85 due to ease of access.  Iíve been hearing how Buckeye has been planning to expand west of the White Tanks since they incorporated as a city. 

The trouble is that even with improved infrastructure that is a long way from any of the working centers of the Phoenix area.  I canít fathom that 300,000 people from working class homes will be able to reasonably live in a place so disconnected from the rest Phoenix Metro Area.  If there isnít demand, the development simply wonít take off anywhere near to the scale being boasted Howard Hughes Corporation.

--- End quote ---

I predict that Interstate 11 will attract lots of industrial and commercial development. If Tervalis is like other "new towns" like Woodlands, Irvine, or Columbia, it will become a major job center.

Bobby5280:
It's funny how people don't seem to remember economic conditions prior to the 2006 housing industry bust. $150 per barrel oil is one of the things that precipitated that collapse. That's when I saw $4 per gallon gasoline in the states for the first time.

Prior to that Hummer TV commercials were all over the broadcast air waves. Cheap gasoline was one of the things fueling new home developments farther and farther out from urban centers. Combine the cheap fuel with so many people buying homes with adjustable rate mortgages ("cuz we'll flip this house for a big profit in a copule years""). They weren't prepared for gasoline prices to spike and completely upend their already badly stretched financial game plans. I think this Teravalis development will depend on a lot of people to financially over-extend themselves to get anywhere near that 300,000 goal.

We've had gasoline prices hitting all time highs again. While gasoline prices have fallen some the prices for diesel remain stubbornly very high. Prices of so many things have risen and at rates well beyond average wage gains. These current conditions (and the rising interest rates associated with them) may be temporary. But they're not easily forgotten either. Prospective home buyers trying to weigh the pros and cons of living an hour's drive from work have to keep fuel costs (or even tolls) in mind.

Advances in technology, particularly Internet (not "Interstate" -freaking typo) infrastructure, may boost the growth of virtual work environments. That makes the overall outlook of where an employer may choose to build new offices less clear. I certainly don't see a boom of new office buildings happening in Buckeye anytime soon.

Pink Jazz:
ADOT finally added travel times to the Loop 202 SanTan Freeway, as well as the eastern portion of the Loop 202 Red Mountain.

I personally thought it would have been a good idea to include a comparison of minutes to Queen Creek on L-202 EB via Val Vista vs. SR 24, as well as minutes to Phoenix via US 60 vs the Loop 202 Red Mountain.

ztonyg:

--- Quote from: Pink Jazz on November 04, 2022, 06:40:09 PM ---ADOT finally added travel times to the Loop 202 SanTan Freeway, as well as the eastern portion of the Loop 202 Red Mountain.

I personally thought it would have been a good idea to include a comparison of minutes to Queen Creek on L-202 EB via Val Vista vs. SR 24, as well as minutes to Phoenix via US 60 vs the Loop 202 Red Mountain.

--- End quote ---

They also finally added L-202 in addition to I-17 Peoria or I-17 Durango to W/B I-10 downtown (prior to the South Mountain Freeway construction they listed time to 59th Ave).

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