Water issue/ water restrictions in AZ

[Mary Jay]

http://www.arizonawaterfacts.com/home/do-we-have-e...

and

https://www.theguardian.com/cities/2018/mar/20/pho...

So, the water issue is not getting better...

Do you guys think at one point it will affect the housing market here?

Why buy a 200K house and keep it long term, so by the time its paid off its worth nothing because there is no water left?

[Stone Jin]

I guess the same could be said for why would people buy at the coast when rising ocean levels can just consume their homes.  There is always an element of risk.  However I think moving of water from areas where there is abundance to areas where there is scarcity is something humans can tackle and create solutions for.   In the 14 years I've lived in the valley I don't recall any messages from the state on restriction of water.  

With that said we are hedging for that outcome by buying near Lake Erie in Ohio.  I don't see the great lakes disappearing during my lifetime.