Just Add Water: Using artificial lakes and underground irrigation systems, developers turned Maricopa from a dusty farming community into a grassy exurb of Phoenix. Paul Graham for The New York Times
What is wrong with this picture? The New York Times real estate magazine, usually a cause for depression when one looks at the ads for 10 million dollar apartments, adds to the malaise by looking at reality outside of the gilded city for once. It describes the land rush in Maricopa, forty miles south of Phoenix, where the only industry was buying and selling houses.
It was all a completely artificial construct based on cheap water, cheap gas and cheap mortgages. It is now disintegrating, along with the lives of the people who bought there. ::New York Times