Water issue/ water restrictions in AZ

5 Replies

@ Mary Jay - your post made me laugh

I used to own some $400K rental properties in Phoenix, and everytime I went over, I kept thinking "man, with this global warming, in 20 year, phoenix is going to inhabitable..."  I eventually sold at at $100K loss...

To this day, I keep wondering why do CA investors buy up the phoemix MFH, and where do they find all these tenants?  A lot of these MFG have 200 or more units in them.....

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.

Originally posted by @Michael Hacker :

Good info in this thread from @clare stielstra:

https://www.biggerpockets.com/forums/311/topics/536827-arizona-water-supply?page=1#p3274810

 Very good link. Thank you so much!

Originally posted by @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.

 Good point. Ive been looking elsewhere myself as well...

How has Ohio been treating you? 

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