RE and economic charts: Arizona jobs forecast in 2011, 2012 worse than originally projected + Census: Maricopa County on top of list for home vacancies

Friday, October 7, 2011

[mEDITate-OR:

not see that the vacancies almost equal the loss in population/jobs

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What is also interesting is that

this year the job gains are equal to 4.78%

and

next year equal to 9.23%

of the prior three years losses.

Or in two years AZ will recover 14.0% of the prior three years losses.

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In the next two years AZ will gain back less than were lost last year in 2011.
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In numbers 15,500 + 29,900 = 45,400

Losses were 324,000

Therefore we are still down by over 300,000

- IF you add in population growth.

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Translated = If we grow by this years rate it will take over 20 years to recover

But, if we grow by next years projection, it might take only 10 years

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Almost 14 percent of all homes are empty in Maricopa County

227,696 single-family homes, condominiums and apartments were empty

Tucson has about 230,000 housing units.

So Maricopa County's vacancies are the equivalent to an empty city the size of Tucson.

Maricopa County's population grew 24 percent

while its housing stock grew 31 percent.

In 2009..., Phoenix had more than 100,000 houses built in 2004-06 still sitting empty.

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Statewide, housing units increased 30 percent from 2000 to 2010.

The state's population grew 25 percent during the same time.

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Clark County, home to Las Vegas, actually had a higher vacancy rate of 14.9 percent.

But it is not among the nation's 10 most-populous counties.

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The state lost has 324,000 jobs since the recession began in December 2007

Arizona employers are expected to add more jobs than they cut in 2011

- the first year that has happened since 2007

Arizona is expected to gain 15,500 non-farm jobs in 2011, compared with last year

In 2012, the state is projected to gain 29,900 jobs over 2011

in Arizona's health care and private-education industries

projected to see 4.5 percent growth in 2011, adding 15,400 jobs,

and another 3.6 percent bump in 2012, up 12,900 jobs

RE and economic charts