The Homes Are Built, But Buyers Aren't Moving In. Why?
More than 70 new home communities have opened in the Phoenix Metro area so far this year. And, one analyst says even though buyers are interested, they’re not able to get the keys.
A big reason why? A lack of cash.
Jim Belfiore, President of Phoenix-based Belfiore Real Estate Consulting, blames mortgage finance reform, student debt and a lack of jobs for recent college grads.