Southwest Investors: Are water shortages a concern long term?

[Ronaldo Marion]

I've seen several articles and videos concerning lake levels dropping and various droughts in the southwest including Arizona, Nevada and Southern California. Are these real issues? Do buy and hold investors take this risk into account when investing in this area? I'm not an investor nor plan to invest in this part of the country, but I've always wondered if this was a real long-term risk factor that is considered.