Word: phoenix
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Dates: during 1990-1990
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Want a job? Try once down-and-out places like Houston, Salt Lake City and Gary, where newspapers are thick with help-wanted ads. But shun former go-go hot spots such as Boston, Phoenix and Atlanta, where 1980s-style booms in everything from computers to construction have suddenly gone bust...
...Paced by high-flying Boeing, which is working off a four-year backlog of aircraft orders, Seattle is attracting newcomers from across the country. The median price of a Seattle home rose 23% in the third quarter to $110,000, marking the largest increase in the U.S. By contrast, Phoenix is mired in a real estate depression in the wake of a heedless building spree. Lenders foreclosed on more than 15,000 residential mortgages last year, up nearly 20% from 1988. In the Rocky Mountain area the Denver economy is still struggling to recover from the energy slump...
When they close up shop at night, many Southern California landscapers have to lock up their most valuable merchandise: palm trees. The plants, essential for any chic Southwestern edifice, are in such demand that nurseries are unable to keep them in stock. A prize specimen of Phoenix reclinata, which grows only a foot a year, now retails for $25,000. The new Mirage Hotel in Las Vegas spent a seven-figure sum to install 200 palms averaging 40 ft. each...