News Article From: 11-01-2005
The article, The Next Real Estate Boom, from CNN.com, reports that in the coming 25 years, the biggest wave of development since World War II will turn America's major metro areas into giant "megapolitans" teeming with opportunity. They cite the Metro Phoenix to Tucson area as one of those ten future "megapolitan" areas. The article starts out by talking about Mike Ingram, who runs El Dorado Holdings, and how he saw opportunity in land here nearly 20 years ago, and how he has turned his company's land holdings into a portfolio valued at nearly $1 billion. The article references Buckeye and the explosive growth that is occurring there, and how land values have skyrocketed in this area. The article also states that ..."few possess the kind of economic perfect storm for growth and profit that Arizona boasts. No other region offers such great volumes of buildable land at such low prices. An acre of dirt can still be had for as little as $25,000, compared with $1 million on the outer fringes of Chicago. Land tagged for development will drive a near doubling of the Phoenix/Tucson region's population, and unlike Los Angeles, the area has enough water-- from underground rivers, aqueducts, and nearby mountains-- to support all the new residents." Local land broker Nate Nathan states "The country is swarming Phoenix. This place is on fire." This is a great article to send to your investors and clients!
The Next Real Estate Boom