Stimulating Phoenix: City Looks for Bailout

After years of benefiting from the housing market boom, Phoenix, one of the national capitals of urban sprawl, suddenly finds itself threatened by slow sales, bad mortgages and a rash of foreclosures. After signing the economic stimulus bill in Denver early this week, President Barack Obama is scheduled to head to the Arizona metropolis Wednesday to try to make the case for the legislation to the American people. The Sunbelt region has been one of the hardest-hit in the real estate bust. One...Full Story
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