Arizona economic growth likely to accelerate, new report says

 

 

You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “  AND  “The major fortunes in America have been made in land.”- John D. Rockefeller.  ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA,  CLICK HERE  AND PLEASE CALL ME.     520-975-5207 or email me walterunger@ccim.net.  ….  VIEW ALL OF WALTERS LISTINGSLet me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE     

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Russ Wiles, Arizona Republic Published 4:24 p.m. MT Aug. 22, 2018

Economic conditions have improved “dramatically” in recent months for Arizona and the nation, and state-growth projections have been revised upward, according to a new report produced by the Governor’s Office. 

But the prospect of rising interest rates and inflation could dampen the outlook a year or two down the road.

“All major indicators now suggest a significant improvement in the rate of economic growth since approximately the end of 2017,” wrote Glenn Farley, chief economist for the Governor’s Office of Strategic Planning and Budgeting in a commentary released Wednesday.

“After averaging just 2.2 percent per year since the end of the recession, current indicators suggest an imminent return to real Gross Domestic Product growth rates of over 3 percent,” he continued.

That would mark a return to more normal growth following several years of subpar expansion following the recession.

The latest reading for the nation shows the economy grew 4.1 percent in the second quarter, and top White House officials, including Treasury Secretary Steven Mnuchin, have said the strong results could continue for at least a couple more years.

Also, leading or predictive national economic indicators monitored by the Conference Board, a research group, strengthened in July.

Arizona has lagged the nation in some respects, such as with an unemployment rate that’s still above the U.S. average.

Third-quarter forecasts

Farley cited a recent estimate by the Federal Reserve Bank of Atlanta that U.S. economic growth in the current quarter could hit 4.3 percent.

Meanwhile, the Congressional Budget Office and IHS Global Insight project growth of at least 3 percent both this year and in 2019, fueled in part by federal income-tax cuts enacted late last year.

“Rising personal incomes and wages — strengthened by a tightening labor market, faster economic growth and moderate inflation — are supporting a resurgent consumer, which in turn is fueling robust growth in state tax revenues,” Farley wrote.

A preliminary assessment last month by the Joint Legislative Budget Committee indicates Arizona government revenue hit a record $10.1 billion during the fiscal year ending June 30, up 7 percent over the prior year and eclipsing the prior record of $9.6 billion in fiscal 2007.

Caution ahead

While prospects for the next 12 to 18 months are strong, the Governor’s Office of Strategic Planning and Budgeting is more cautious for the economy after that, noting that the current expansion cycle is relatively lengthy at roughly nine years old.

Potentially higher inflation and interest rates “could eventually offset favorable job and income prospects, leading to (an interest-rate) tightening that could slow both the economic expansion and the growth in tax revenue,” he wrote.

Reach the reporter at russ.wiles@arizonarepublic.com or 602-444-8616.

SEE IT ALL: https://www.azcentral.com/story/money/business/economy/2018/08/22/arizona-gross-domestic-product-growth-expected-hit-3-through-2019/1065347002/

ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA,  CLICK HERE  AND PLEASE CALL ME.     520-975-5207 or email me walterunger@ccim.net.  ….  VIEW ALL OF WALTERS LISTINGSLet me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE     

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Timeline of Arizona from  900 BC – 2017                 

WHY PHOENIX? AMAZING!!!  POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

FROM ME:                                                                                    

Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a   CCIM:   https://en.wikipedia.org/wiki/CCIM 

PLEASE CALL ME 520-975-5207 OR E-MAIL ME walterunger@ccim.net

ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA,  CLICK HERE  AND PLEASE CALL ME.     520-975-5207 or email me walterunger@ccim.net

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WEEKLY APARTMENT CLOSING UPDATE THROUGH August 10, 2018, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH August 3, 2018, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH July 27, 2018,  Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH July 20, 2018,  Phoenix Arizona Metro.

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WEEKLY APARTMENT CLOSING UPDATE THROUGH June 22, 2018,  Phoenix Arizona Metro.

 

8 Reasons You Should Invest in Land

Timeline of Arizona from  900 BC – 2017                                                                 

WHY PHOENIX? AMAZING!!!  POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

CLICK HERE:  VERY COST EFFECTIVE SPONSORSHIPS AVAILABLE / South Scottsdale: Where the World Comes to Play and Innovative Companies Excel”

 

Event about the Future of Old Town and South Scottsdale -Where the World Comes to Play and Innovative Companies Excel.

 

DOT – LOOP 202 / SOUTH MOUNTAIN FREEWAY / PHOENIX AZ – UNDER CONSTRUCTION

ARIZONA FACTS – YEAR 1848 TO 2013

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What is a CCIM.

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  • DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
  • The average age of the population is 34 years old.
  • The health cost index score in this area is 102.1. (100 = national average)
  • Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).

PHOENIX PROJECTED AS NUMBER ONE US HOUSING MARKET FOR 2017

LIST OF ECONOMIC DEVELOPMENT PROJECTS IN PINAL COUNTY, REVISED 2-14-17

Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience                                                                                                                         

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Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

2016 Official Arizona Visitors Guide

Visit Arizona

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

Timeline of Phoenix, Arizona history

Phoenix, Arizona

Facts of Arizona – year 1848 to 2013

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.

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 Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages.  The interactive map  shows the location of each community (10+ units) and each location is color coded by the size (number of total units). 

 Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 

Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207

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Walter Unger CCIM

Senior Associate Broker

Kasten Long Commercial Group

5110 N 40th Street, Suite 110

Phoenix , AZ 85018

Direct:    520-975-5207

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