Economic Outlook: Plow Horse Economy Will Continue to Recover -- Slowly
The general consensus on Arizona’s economic outlook for the second half of 2013 is this: Arizona, like the nation, is likely to continue growing, but slowly. In some areas of the economy -- like jobs -- we’ll have to get used to a new normal. In other areas -- like GDP -- full recovery is still years away. Economists from the W. P. Carey School of Business delivered this analysis that the Annual Economic Outlook Luncheon on May 16.
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Josue “Joe” Robles, president and chief executive officer of USAA, was named the Executive of the Year on April 25 by the Dean’s Council of 100 at the W. P. Carey School of Business. A retired major general, Robles leads a company that offers financial services to military families. In his speech, Robles said USAA will add 1,000 employees to its Arizona offices in the next three years. He then explained to the audience of business leaders how USAA is helping veterans and their spouses to develop careers. On April 30, 2013, he will be among 70 CEOs meeting at the White House to discuss ways to help veterans transition from military service to careers in a challenging economy.
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Beyond the Housing Shortage: Urbanized Suburbs and Dense Development
Although many people may find it hard to believe, the Phoenix area is facing a growing housing shortage, according to real estate experts Mike Orr and Mark Stapp from the W. P. Carey School of Business, who were featured speakers at a forum on April 6. And, the future may bring more dense developments and urbanization of the suburbs.
Phoenix Real Estate: Prices Up, Investors Fade, Homebuilding Sluggish
In a market with chronic supply shortages, normal demand can drive prices up. That continues to be the case in the Phoenix market, according to Mike Orr, director of the W. P. Carey School’s Center for Real Estate Theory and Practice and author of the monthly Phoenix housing report. After a mid-winter lull, housing prices are climbing again, further dampening what was already waning investor interest. And that upward pricing trend may be one reason homebuilders are in no hurry to increase production, despite buyer interest: waiting should mean getting more for new homes.