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Old 02-25-2011, 07:12 PM
 
49 posts, read 123,017 times
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Hi all,
My husband grew up in Tempe and we lived there together for a few years but have been away for the past 7 years. We are looking at coming back in the next year after he is finished with school. Since the big housing bubble burst a few years ago how would you say the economy is and would you say certain parts of the valley are taking off faster than others?
Thanks for any input. In our minds we think it's tanked but that's a very uneducated thought and want to make some decisions based on people's thoughts/facts/opinions of those living there.

Thanks!
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Old 02-25-2011, 07:20 PM
 
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We're in a lot better shape than Vegas, but I would say the economy is a "D" here. Showing slight improvement. There is going to be a lot more turbulence in the Public Sector over budget issues in the near future--just like almost everywhere else. I was away from Phoenix for 10 years, came back, and have acquired two properties at less than 20% of their peak assessments. For many years, Phoenix (and LV, too) were places one could come without a lot of assets, and get a job, and rent a decent place (unlike the Bay area). It hasn't been that way lately. The people that saved during the boom are sitting pretty good.
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Old 02-25-2011, 07:34 PM
 
Location: Phoenix, AZ
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It's rough as it is everywhere. If you or your husband can find a good job then you will be fine.
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Old 02-25-2011, 07:43 PM
 
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Unemployment is 8.4% and falling. Lots and lots of new jobs and net job growth. There have been plenty of news stories lately about companies locating or expanding here. The housing market seems to be stabilizing (especially at the lower and middle brackets). The population is still growing at a good rate. I'd give it a "C+" grade. If we're grading on a curve based on the nation as a whole, perhaps a "B+" or even "A-"....
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Old 02-25-2011, 08:21 PM
 
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And, recent figures show state sales tax revenues coming back up (NOT counting the temporary one percent increase) Any improvement there is a good sign.
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Old 02-25-2011, 11:43 PM
 
Location: East Central Phoenix
7,122 posts, read 10,380,692 times
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Quote:
Originally Posted by observer53 View Post
And, recent figures show state sales tax revenues coming back up (NOT counting the temporary one percent increase) Any improvement there is a good sign.
Yes, but don't count on the 1% increase in sales tax as only "temporary". Once state coffers prosper with the extra money, and people get their nice little government programs reinstated as a result, the tax will be a permanent fixture. Remember the 1985 "temporary" half cent increase in sales taxes to pay for the freeways? It was extended by the voters in 2004 to pay for expansion of light rail, and for additional freeways. Actually, some of those "additional freeways" were reinstated from the old 1985 plan which ADOT severely mis managed along the way.
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Old 02-26-2011, 09:02 AM
 
523 posts, read 882,503 times
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Unfortunately things continue to degrade in the Phoenix area's economy. We have been continually looking for ways to stop this, but nothing seems to be working. Arizona was named by Forbes as one of the few states which is heading back into recession. Additionally, the real unemployment rate for Arizona remains one of the highest in the nation at 18.4%: Alternative Measures of Labor Underutilization for States
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Old 02-26-2011, 09:25 AM
 
2,942 posts, read 6,045,246 times
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Quote:
Originally Posted by EnicAZ View Post
Unfortunately things continue to degrade in the Phoenix area's economy. We have been continually looking for ways to stop this, but nothing seems to be working. Arizona was named by Forbes as one of the few states which is heading back into recession. Additionally, the real unemployment rate for Arizona remains one of the highest in the nation at 18.4%: Alternative Measures of Labor Underutilization for States

Oh, Mr. Doom-And-Gloom, glass is half-empty and draining. You posted that old Forbes article once before, didn't you? And the U-6 data from September?

Again, Phoenix's U-3 Unemployment is 8.4% (below the national unemployment rate) and falling. Yahoo! Real Estate had a recent article predicitng Phoenix would have the fourth most job growth in the U.S. this winter.

Really, do you only have out-of-date articles and data to support your depressing opinions? Do you ever have anything positive to say?
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Old 02-26-2011, 12:04 PM
 
Location: Phoenix, AZ
1,106 posts, read 3,133,848 times
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Quote:
Originally Posted by Ritchie_az View Post
Oh, Mr. Doom-And-Gloom, glass is half-empty and draining. You posted that old Forbes article once before, didn't you? And the U-6 data from September?

Again, Phoenix's U-3 Unemployment is 8.4% (below the national unemployment rate) and falling. Yahoo! Real Estate had a recent article predicitng Phoenix would have the fourth most job growth in the U.S. this winter.

Really, do you only have out-of-date articles and data to support your depressing opinions? Do you ever have anything positive to say?
Dude no offense but getting combative with anyone that says anything you don't want to hear will not change the fact the Valley UE is at an all time high and real estate prices continue to plummet.

I realise you want to sell houses in a terrible market but denying reality and launching ad homs on other posters here will not help.
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Old 02-26-2011, 01:37 PM
 
2,942 posts, read 6,045,246 times
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Originally Posted by _Charles_ View Post
Dude no offense but getting combative with anyone that says anything you don't want to hear will not change the fact the Valley UE is at an all time high and real estate prices continue to plummet.

I realise you want to sell houses in a terrible market but denying reality and launching ad homs on other posters here will not help.

Dude, EnicAirPheenixConcernsAZ (and probably some others), in the words of Dora, are "the grumpy old troll who lives under the bridge". He says only negative things and repeats them over and over, even after many of them have been refuted by numerous reputable posters. I get tired of it.

U-6 Unemployment is questionable, U-3 is the "standard", I don't get the point of harping on U-6. Phoenix's U-3 Unemployment is 8.4%, which is high compared to what it once was, but significantly better than the U.S. unemployment of 9.8%. Even if you look at U-6 (which is current only as of September '10, nearly six months ago), it's 18.2% for Arizona, and 17.1% for all of the U.S. (which Arizona is obviously higher, but not significantly higher).

Also, I'm not a realtor or investor and I'm not selling any houses.

As far as the housing market, the bottom has seen some gains. The middle is stabilizing, the top is still falling. For a good picture of what is happening and will be happening in the near future, I recommend the Cromford Report, which gets posted on here from time-to-time.

I'm not denying reality and I'm not "launching ad homs on other posters". EnicAZ (and his other identities) have been pretty well documented. If you want you can go to his profile and read his entire posting history.
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