The U.S. and Arizona housing markets are in the midst of a sharp correction – the first since the Great Recession. Prices peaked in June and have fallen over 3% through September. Ongoing rising interest rate pressures, a collapse in buyer interest, and lags in the construction and permit approval cycle will likely put continued downward pressure on prices over the next 6-12 months.
With the decriminalization of the possession and use of illegal drugs in some jurisdictions, the surge in migrant encounters along the U.S.-Mexico border, and the recent increase in fentanyl overdoses in Arizona, Common Sense Digest explores what impacts these events...
In April, the Common Sense Institute (CSI) released its economic simulation of the long-run impacts of moving from an 8.00% progressive income tax structure to a 2.50% flat income tax in Arizona. That analysis found the state would have 58,800 more workers and add $11.9 billion to its economy by 2032 due to this change.
Consumer prices in the United States continued their record ascent in April, rising 8.3% over the last 12 months – among the highest rates in forty years. At 11.0%, price inflation in the Phoenix metropolitan area remains both well above the national average and at the highest levels ever recorded for the city.