A planned community of 300,000
home-buying customers? It sounds to me like some developers are taking some market conditions for granted. There is a lot of variables in our nation's economy that are financially unsustainable for the long term. Only so many people can afford to buy a McMansion these days.
This kind of news reminds me of the mid 2000's when lots of people were getting suckered into paying top dollar for homes built way out in the "exhurbs" and financing them with adjustable rate mortgages.
"Oh don't worry, you'll able to flip this house for even more money before your mortgage rate changes!"There's a bunch of young adults who can't afford to move out of their parents' homes and make rent on an apartment. They gotta get one or more roommates. I'm worried this situation could dramatically worsen. I already own my own home, but I have other "selfish" concerns -like whether or not Social Security, Medicare and Medicaid will even still exist 20 or so years from now when I'm eligible to retire and start drawing benefits. It takes so and such large of a tax base to prevent those programs from going completely insolvent. That means having enough young adults who can afford to buy their own homes, get married, have kids and all that good stuff,
including contributing to the tax base. A planned community built on speculation depends greatly on having enough young adult customers.
That will certainly help, but I-11 is one those things I’ll believe is going to happen when shovels are in the ground. That whole course west of the White Tank Mountains makes zero sense as far as providing a Vegas-Phoenix link.
Bare minimum, I-11 should be routed down US-60 to at least the Loop 303 corridor then go down to I-10. Routing it way out past the White Tanks and Sun Valley Parkway doesn't make a lick of sense. The vast majority of Las Vegas to Phoenix traffic will stay on US-60.
If this 300,000 person residential development actually succeeds then, yes, a secondary 3 digit Interstate from Wickenburg straight down to I-10 might make sense. But it doesn't cancel out the need for a direct Phoenix-Vegas Interstate.