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Phoenix is the largest city in Arizona and its population of more than 4.2 million people makes it the fifth most populated city in the United States. In recent years, Phoenix has demonstrated a drastic growth streak, as its population has been growing by 24.2% since 2000, making it second only to Las Vegas among U.S metropolitan areas (29.2% since 2000). Tourists are drawn to Phoenix during the winter season for its warm weather and recreational activities, providing an excellent source of revenue for the golf, hotel and resort industries. Phoenix is home to Intel’s $3 billion state-of-the-art facility, American Express’ financial transactions center, and headquarters of U-HAUL & Best Western. The Phoenix real estate market was hit particularly hard by the financial crisis of 2007-2010, resulting in a drastic reduction of property values. Phoenix remains a buyer’s market through today, as housing prices are still highly affordable.
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