18 Really good reasons to bank on the future of the Phoenix area real estate market:

18 Really good reasons to bank on the future of the Phoenix area real estate market:

1. The migration from the Snow Belt states to Metropolitan Phoenix has been unabated for 60 years.
2. A similar extended migration is now occurring from the Northwestern states and Western Canada.
3. The “installed base” of all those migrants brings a steady stream of extended family members.
4. Proposition 13 makes moving up difficult in California; many Golden State sellers buy in the Phoenix area.
5. Californians in pursuit of other objectives — e.g., a friendlier business climate — migrate to the Valley of the Sun.
6. Baby Boomers will retire in droves to warmer climes — the Atlantic coast, the Gulf states and the Southwest.
Among those locales, Phoenix is by far the least prone to natural disasters.
Because of this, people from disaster-afflicted regions have formed a new stream of in-migration.
7. There is a steady migration of new residents from Spanish- and Portuguese-speaking countries south of the border.
8. Phoenix is a destination of choice or the second-landing city for immigrants from all over the world.
9. While higher oil prices will put a strain on our far-flung suburbs, the greatest pain will be felt in Northern states where fuel oil or natural gas are used as heat sources; even people who don’t hate the winter will move to the Phoenix area to escape high heating bills.
10. The Phoenix Metropolitan area is a dynamic jobs creation machine, adding tens of thousand of new jobs every year.
11. People who have or hope to have children move here as soon as they can manage it. Compared to the areas from which many of our in-migrants are drawn, our homes are still very affordable.
12. We build thousands more new homes every year.
13. The Greater Phoenix area has 60 years of sustained practice at managing extreme growth — this in contrast to thrashing cities like Las Vegas.
14. Snowbirds, politely known as Our Winter Visitors, eventually move here year-around.
15. Our first waves of massive migration occurred after WW II; mustered out soldiers who had been stationed here came back with their families; this pattern continues among people who are posted here temporarily for various reasons.
16. People who stay at our resorts often fall in love with the Valley of the Sun and return as soon as they are able.
17. A significant number of active and retired professional athletes maintain homes here, in no small part because the Phoenix/Scottsdale area has…
Year-around golf.
18. It could be there’s too much sun here for congenital cellar-dwellers — but that’s a good thing!
Go Arnold... CA taxed are high...