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BUSINESS
SCOTTSDALE PROGRESS | WWW.SCOTTSDALE.ORG | AUGUST 1, 2021
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Karma charges into the Scottsdale Airpark BY CHRISTINA FUOCO-KARASINSKI Progress Staff Writer
on Parske has become accustomed to people pointing and staring at him in the last month. Parske is the general manager of Karma Scottsdale, the Airpark-based dealership with the exclusive rights to sell the luxury electric vehicle in Arizona. “The one thing that’s drawn me to Karma is it’s the only vehicle I’ve ever driven that every single person who sees it turns their head,” Parske said. “The lines are unbelievably elegant. For that, it immediately turns heads. Karma is a car manufacturer. Tesla is an electronics company. That’s why Tesla is in the mall. Karma has a great fit and finish. It’s on the same level as Bentley and Rolls-Royce.”
Joe Parske says Karma is a head-turner that he puts on the same level as a Rolls or Bentley. (Pablo Robles/Progress Staff Photographer)
The sleek cars, which start at $144,000, feature an elegant exterior design, along
with an interior made of sustainably sourced, high-quality materials that are
completely customizable. “When clients are purchasing a car, they can pick out colors and woods,” Parske said. “If you wanted to lay your whole vehicle in mother of pearl instead of normal wood, Karma will source the product. You can customize your vehicle. “The cars are built in California, so there’s less wait time. It’s a max of four to six weeks, versus three to six months. We have our regular paint choices, but if you want to paint it a certain color, they’ll do that as well. We’ll paint it whatever color you want if you’re willing to pay for it.” Anyone driving under 50 miles a day will never need gas, and those driving more will get 300 miles per battery charge with the Revero and up to 360 miles with the Revero GT.
see KARMA page 23
Valley renters caught in housing price squeeze BY PAUL MARYNIAK Progress Executive Editor
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alley renters are increasingly finding themselves caught between rapidly rising rents and soaring home prices that make buying a house next to impossible. Starter-home prices are rising seven times faster than a typical renter’s income, making saving for a down payment even harder, according to Zillow. The online real estate marketplace earlier this month said its analysis shows first-time buyers need a year longer to save enough for a 20 percent down payment than they did in 2017 and must put away an additional $369 per month in the coming year just to keep up with the forecasted growth in home values.
But a report from Arizona Regional Multiple Listing Service on July 19 carried depressing news for any buyer, let alone first-timers: Year-over-year sale prices in the Phoenix metro region rose a whopping 46.26 percent in June and the current average price of a home is $507,936. Realtor.com reported, “High demand for a limited supply of rental housing has resulted in skyrocketing prices across the nation – and desperation from those seeking more affordable housing options.” Zillow offered a sunny outlook for renters by noting “monthly payments can remain affordable even with a smaller down payment, and flexible work op-
see RENT page 23
