The Phoenix, AZ market is suffering from a very competitive buyer pool and a shortage of inventory to meet the needs.

Housing shortage is a big factor and new build's won't alleviate that pressure anytime soon.The barrier to entry will be a bit higher over here with median single family homes hovering around 500K but with 10-12% YoY appreciation would you prefer a lower cost asset that puts 250 per month in your pocket?

@Kenneth HynesThere is no shortage of inquiries here.

We sure don't have a shortage of bars and wine bars around me.

This tells me that there's a critical supply shortage in these "certain places" and the fix is going to have to be more permanent and not just superficial.apparehently, they are seeing rents go up in "certain places 20, 30, 40, 50% and even higher in some places"

Additionally, the inventory there is larger than personally what i feel is healthy for an economy with a supply shortage???

No shortage of jobs and opportunity here - that's for sure.

Unfortunately, we have faced some of the same things as many small businesses coming out of the pandemic, labor shortage, unpaid rents, and rising costs.

3) There's a significant shortage of housing in the USA currently.

My understanding is the the cities are allowing ADU to specifically address housing shortages and homelessness.