By Kristena Hansen
Phoenix Business Journal
If you’d like to discuss real estate matters, contact Rose Law Group Founder Jordan Rose, jrose@roselawgroup.com
The nerves of Arizona real estate professionals have been fraying a little more with every passing week as lawmakers in Washington attempt to reach a middle ground by year’s end to avoid the so-called fiscal cliff, which is widely feared will throw the nation’s still-fragile economy back into recession.
In a state where the local economy has traditionally been extremely reliant on real estate, Arizona’s rapid recovery of its housing market will almost certainly relapse should the nation drop off the fiscal cliff, Elliott Pollack, an economist and CEO of Scottsdale-based Elliott D. Pollack & Co., told me this week.
“The fiscal cliff is quite real and quite ugly,” Pollack said. “It would have a severe impact on Arizona — almost draconian.”
