What is going on with the economy?

I had the pleasure of recently attending the seventh annual Economic Club of Phoenix meeting.  The leadership professionals, all agreed that we are experiencing historically low unemployment.  In no recession has unemployment been below 5%…so, maybe unemployment will go up?  Who knows, but they do know that immigration employment has gone up by 7.5%, so people are working and that is great!

New housing has been underbuilt for 12 years in the Phoenix area, no wonder we are having a low inventory issue.  Taking you back to Econ 101, supply and demand.  When there is a low supply and a high demand, the prices go up.  When there is a high supply and a low demand prices go down.  The state of AZ is now on the news as one of the  ‘migration states.’  They are not talking about people migrating from other countries, but interstate migration.  Builders cannot build fast enough!  I don’t know about you, but when I am out driving around I notice multi-family housing going up all over the place, condos especially.

As always, I would love to assist you in any property investments, or a new, beautiful home.  Or if you just want to chat about the economy, I would love it.  (480) 239-9828