Development and economic expansion throughout Maricopa County seems to be an unstoppable force. Regardless of current market conditions, there are so many people moving here, and so many new jobs being created, that it's unrealistic to think of our current residential market conditions as anything other than temporary. (Although anyone trying to sell their home today might have something else to say...)
Here are two articles pertaining to this growth:
Lots of development along Loop 303 on the West side.
Cessna to add 100 jobs on the East side.