Moody’s sees ‘red flag’ water stress ahead for Phoenix area
Moody’s Analytics, a data research firm that assesses financial risk, issued a dire warning for commercial real estate in the Valley just days after the mayor, water officials, researchers and business leaders explained why the state isn’t running out of water and housing development will continue to thrive. Moody’s predicts that between 2030 and 2040, 100 percent of the Phoenix-are population will have “high” or “red flag” exposure to water stress. It extrapolated from its data that businesses would be hard-hit because they use more water than residences. Critics noted errors in the report, including the fact that Phoenix is not putting the brakes on housing, and decried the lack of transparency with the report’s data.
