By Ronald J. Hansen, The Republic
Related: Arizona among the most damaged from downturn
Demographic factors that for years slowed down Arizona’s housing industry finally seem to be turning in the state’s favor, one of the reasons economic growth should keep chugging along in 2016, economists said Wednesday.
Scottsdale-based Elliott Pollack said Millennials and “boomerang buyers” are among the forces creating the best conditions for housing since the boom a decade ago.
At the same time, the state continues to improve in attracting technology and finance jobs, offering a measure of higher incomes and greater diversity to the state’s economy, said Lee McPheters, director of the JPMorgan Chase Economic Outlook Center at the W.P. Carey School of Business at Arizona State University.
