ASU Professors: Arizona Still Two Years Away From Full Economic Recovery


It's 2014 and some professors at Arizona State University say the state is still two years away from recovering from the economic crisis.

Professors from ASU's W.P. Carey School of Business held their 2014 Annual Economic Outlook Luncheon, which included a discussion about Arizona's slow recovery.

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ASU Real Estate Report: Phoenix-Area Home Prices May Not Go Up This Year

By Cygnusloop99 via Wikimedia Commons
The Jorgine Boomer House in Phoenix, designed by Frank Lloyd Wright.

The "rebound" of home prices in the Phoenix area might be over, according to the monthly real estate report from Arizona State University's Center for Real Estate Theory and Practice.

According to the report, "the market conditions suggest prices will struggle to make any further upward progress in 2014."

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Arizonans' Financial Situations Are Generally Horrible, Study Finds

By Roman Oleinik via Wikimedia Commons

A study of financial data shows Arizonans generally are not in good financial shape, compared to the rest of the country.

For example, about 32 percent of Arizonans, the fourth-hightest rate in the country don't have three months' worth of savings to cover expenses.

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Young People Actually More Responsible with Credit Cards, According to ASU Research

Håkan Dahlström via Flickr

You know what's worse than a 19-year-old with a credit card? A 40-year-old with a credit card.

Despite the common belief that young people are the absolute worst when it comes to credit card use, a study from the W. P. Carey School of Business at Arizona State University and the Federal Reserve Bank of Richmond shows that people between the ages of 18 and 25 are among the least likely credit card users to have a "serious default."

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Arizona's Going to Have the Fastest Job Growth in the Nation, According to Forbes

KellyB via Flickr

Remember this in the case that we're all living in shanty towns in five years -- Forbes has some remarkably good predictions for Arizona's economy.

Forbes projects that Arizona will have faster job growth over the next five years than any other state in the nation.

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Arizonans Break the State's All-Time Record for Money Spent on Lottery Tickets

That's almost true.

Nothing reeks of desperation like Arizona residents breaking the state record for buying lottery tickets.

Arizonans forked over $692.9 million for their 1-in-a-zillion chance at getting rich in fiscal year 2013, which is the most spent in the 31-year history of the Arizona Lottery.

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Amazon Will Start Collecting Arizona Sales Tax in February

Online retailer Amazon will no longer be Arizona's duty-free store.

Amazon noted in its latest FEC filing that it's going to start collecting Arizona sales tax on purchases in the state, which currently stands at 6.6 percent.

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Arizona Immigration Laws (and Joe Arpaio) Called Out by Cato Institute for Economic Woes

The Cato Institute -- a libertarian think-tank -- needed just seven words to sum up its report today on how Arizona's immigration laws are affecting business, and put those words right at the front of its analysis: "Arizona's immigration laws have hurt its economy."

Not only that, but the Maricopa County Sheriff's Office and Sheriff Joe Arpaio got special recognition for helping hurt business in Arizona.

See also:
-Why Janet Napolitano Should Read the Cato Institute Report on Immigration Reform

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Healthcare Cuts for Arizona's Poor Upheld by Judge

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Hundreds of thousands of impoverished Arizonans with health problems apparently will have to tough it out following a court ruling today that upholds healthcare cuts.

Maricopa County Superior Court Judge Mark Brain ruled that a group of people suing the state can't forced Arizona lawmakers to keep funding their free health care.

Proposition 204, which passed in 2000 by an overwhelming majority of voters, expanded the Arizona Health Care Cost Containment System to include residents without children who earn up to 100 percent of the federal poverty limit. Previously, most Arizonans could only qualify if they earned up to 34 percent of the poverty limit.

An AHCCCS document from January states that 238,000 people were enrolled under the expansion in 2009, but by January of this year the number had risen to 377,000.

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Arizona Republic Lays Off 30 to 40, Announces Closure of Chandler Offset Plant; "Yes" Fashion Magazine's Ending

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"Yes?" No.

​About 40 people have been laid off at the Arizona Republic, which also announced plans to close a Chandler press that prints USA Today and various inserts.

The local pink slips come as part of a 2 percent layoff at Gannett's publishing division nationwide. About 700 people are losing their jobs.

Publisher John Zidich, in a Republic article today, cites weak national revenue at Gannett as part of the reason. As with layoffs at the state's largest newspaper in mid-2008, late 2008 and 2009, the limping economy also is blamed.

Some Republic staffers heard the news well after others -- because they were on mandatory, unpaid furloughs announced last month.

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