Legal Alert: The Arizona Homeowners' Bill of Rights - Weighing the Benefits (and Costs) of Extending Consumer Protection in the Residential Construction Context

Over the past five years, contractors, developers, and homeowners have witnessed firsthand the transformation of Arizona's housing "boom" into a housing "bust." This "bust" has resulted in sharply reduced prices, large inventories of unsold and foreclosed-upon homes, and residual anger and finger-pointing directed at financial institutions and contractors, among others. Out of this maelstrom comes the Arizona Homeowners' Bill of Rights ("Bill of Rights"), an initiative from the Sheet Metal Workers union, which is scheduled to be placed before the voters of Arizona in November 2008 after garnering over 260,000 signatures from Arizona citizens.

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