By Joey Chenowith | Pinal Central
MARICOPA — Higher interest rates might be slowing the massive rush of home buying that swept through Pinal County the past few years, but an economist is warning cities that construction needs to continue even faster than its peak rates, or a crisis might be afoot.
Elliott Pollack, who provides economic consulting to Arizona governments and businesses, spoke to Maricopa leaders Thursday during the city’s future planning meeting at the municipal library. The main focus is the desperate need for more housing to meet the ever-rising demands and to ensure that Arizonans have an affordable place to live.
“In all the years that I’ve been doing this, this is the biggest threat to the greater economic development that we’ve ever run into,” Pollack said.