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Old 03-25-2014, 01:18 PM
 
Location: GoJoe
713 posts, read 1,392,132 times
Reputation: 318

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+1, i think you nailed it.

i suspect the owners of rental places are looking at their options, which vary depending on if they own 100% or owe on the property. a non-performing asset is not something to keep in the portfolio, etc.


Quote:
Originally Posted by Prodigal Native View Post
To focus on the OP's questions and real estate issues only...



This is especially true with regards to the rental market as many (if not most) military rent because they don't want to be saddled with a home when they get orders to go somewhere else.




Any replacement is going to be louder which will affect property values at either end of the runway and as far away as Rita Ranch and Vail.



Every city has a few industries it relies on; Tucson is no exception, but I think the degree to which we rely on military/government funds may be out of line. I don't think you can fault Tucson for taking advantage of what DM has to offer, but you certainly can blame Tucson for not reaching beyond that.



I don't see DM going away completely, the boneyard alone makes it unique, but it certainly could be scaled back considerably in the future.



I haven't been keeping up with rental prices, but I know I am finally able to sell my home without taking a big loss. Given my worries about the future of Tucson and the possibility of losing the A-10s I am more than happy to sell it now for a little less instead of waiting another year or two and hoping to get another 5-7%.

I do wonder what will happen to all of the investors if the rental market suddenly goes away. Will they try to sell off and kill the market for purchases as well or will they ride it out for a few years. Personally, I am hoping my place sells soon so I can just sit on the sideline and be nothing more than an observer.
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Old 03-26-2014, 01:08 AM
 
Location: Peoria, AZ
975 posts, read 1,316,352 times
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Local leaders need to figure out a way to either keep the base open or figure out some other major employer to fill the void. If not, the local economy will be in big trouble.
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Old 03-26-2014, 04:37 PM
 
Location: GoJoe
713 posts, read 1,392,132 times
Reputation: 318
Quote:
Originally Posted by Ztonyg View Post
Local leaders need to figure out a way to either keep the base open or figure out some other major employer to fill the void. If not, the local economy will be in big trouble.
you mean the same folks who turned away GCU, who are giving Rosemont problems, and who cant pay for modern street car project. we have our expectations at that level. its far too late to plan for the demise of DMAFB, that should have been done ~10yrs ago. here's my suggestion, stop wasting $$ to send ron barber to dc to cry and beg.

lets see, whats the probability Tucson gets the battery plant for Tesla?

but hey, lets not think forward, there's a gazillion acres of open lands, why not get into the solar biz?
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