Phoenix area real estate? Accused of being in a bubble.
According to the S&P/Case Shiller Index, Las Vegas and Phoenix have topped the nation in price increases. “They’re clearly in bubbles,” said Karl Case, one of the creators of the index. “What can go up can go down -- real quick.”
Well, there's someone who wants to pop that bubble statement.
That is Michael Orr, Director of Real Estate at the W.P. Carey School of Business at Arizona State University.
You can almost hear him roll his eyes around talk of a bubble.
We actually do wait for him to stop chuckling.
Orr, on his regular appearance on That Real Estate Show Saturdays on KTAR says, "You know what my reaction is. They are clearly not in bubbles. In fact, the…