Why is rent in Arizona so high?

The state's housing supply is behind by hundreds of thousands of units, ASU real estate expert says.

In this story published July 3, 2023, on KJZZ:

That's a tremendous number of units that we have to make up. When you puddle these other constraints on making up that inventory, the chances of getting us to the point where prices will drop, I don't think it's even remotely possible.

– Mark Stapp, executive director of the Master of Real Estate Development program and Fred E. Taylor professor of real estate