Positive influences on the local economy
Hello, There was an article in the Business Journal of Phoenix last week that provided some information from the Arizona Blue Chip Economic Forecast. Once again, some of what we have been saying for a while is backed up with this report. Although there are definitely factors that will continue to put a drag on the economy, such as the slow housing market and mortgage concerns, there are many other factors that will help buoy our market through those negatives better than most other metro areas. Population continues to grow, and that bodes well for the long run real estate market. Once again, that will also mean an easier rebound for the negative factors. The following is text of the article:
Economic panel cites population growth, nonresidential construction among local drivers
The Business Journal of
Phoenix
- August 15, 2007
That's the view of economists who take part in the Arizona Blue Chip Economic Forecast. The top negative influences likely will come from the slowing residential housing market, consumer spending, slowing economic growth, and problems with the subprime lending market and rising mortgage rates, the group said.
"It is no surprise that the slowing residential construction market garnered the most mentions as a negative factor for the local economy," wrote Forecast editor Tracy Clark.
But the news is not all bad with population growth critical to limiting the impact of the residential slowdown,
The Forecast panel predicts
The Arizona Blue Chip Economic Forecast is published by the JPMorgan Chase Economic Outlook Center, L. William Seidman Research Institute at the
If you are one of the new people to the area and you are considering purchasing a home, please contact us for a personal, free, no obligation appointment to assist you in finding the perfect home for you!
Adam Tarr, ABR, e-Pro
Sharon Kotula, ABR
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333
info@WeAreAZRealEstate.com