April 26, 2024 8:33 pm
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Stock market boom could propel Arizona real estate, tourism

KPNX 12

As U.S. stock market indexes closed at new highs Wednesday, financial analysts in Arizona expect a ripple effect to hit the real estate and tourism industry.

“The impact for Arizona is two-fold and it comes from what we refer to as the wealth effect,” said Jason Richards, a certified financial analyst for TrustBank located in Arizona. The “wealth effect” means consumers tend to spend more as stock prices rise.

The two industries expected to be impacted the most by the wealth effect are real estate and tourism, Richards said.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.