Quote:
Originally Posted by Obadno
Yeah everyone seems on edge but a mild recession but with the momentum in the city right now maybe we can pull an Austin circa 2008 and have our local
Economy blow right throw the general average trends.
It’s already happening with wage growth, job growth and rental prices which are increasing faster than the national rate and rents are increasing here while declining nationally.
Hell at this point a recession might just cause more California’s and midwesterners to flee here and bring their wealth with them keeping our local situation afloat, basically the opposite of 08’
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^ Exactly. Not all markets are created equal.
While PHX might not have the historic inventory of other large cities, it clears the way for a 'shiny new city' like the ones that have emerged in Asia (for the sake of comparison). Combine that with a large inventory of post-war homes (attractive purchase for millennials) and the PHX/Tempe/Scottsdale core is positioned nicely for continued growth.