Phoenix, long term future?

[Rizwan Halim]

Hi all,

I have a chance to invest in the Phoenix market but am concerned about the ongoing drought and how that might affect property values in the future.  From what I've read, the summers are only going to intensify and Lake Mead might soon hit deadpool, where the Hoover dam won't be able to generate enough electricity due to lack of water.  Lake Mead is already at 1074 feet, at 1075 feet there will be cuts to the Central Arizona Project, if this level remains on 1/1/16.

A lack of water means businesses and residents fleeing.  This is not even very long term but is expected probably over the next 5 years.

Am I overthinking this or rightfully concerned?

Thanks.