When cities experience massive population growth, local authorities must be asking themselves, "can we handle this?"
Evidently Phoenix can.
Phoenix is listed, by Forbes Magazine, among the best cities for job growth. About the area, the article ascribed Phoenix's prospects as strong due to a diverse economy and fundamentally solid economics.
The remarkable element to this article is this: several of the strong job growth locations (Cape Coral metro, Naples, Port St. Lucie, Ocala, Las Vegas, Phoenix and Riverside) all were "ground zero" for housing boom and bust. Yet the cities have managed to maintain job growth.
My opinion is that population growth itself contains the tools for economic rebuilding. With strong growth there is competition. With competition there's a lowered pricing, speculation and a constant flow of money into the system. Thus you find a vibrant market... not stagnation.
Phoenix, once heavily dependant on tourism, has matured. No longer is it a sleepy winter destination. It's sprawling size has allowed it room to grow. The neighboring cities have their own personalities... in essence it's a metro area with something for everyone. Low prices and low taxes, excellent schools have each contributed to the valley's success.
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Chuck Willman is the founder of AZvest... a group of investment minded individuals with an interest in Arizona real estate... he can be visited at www.AZvest.com.
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