Arizona economist Elliott Pollack presented his annual forecast for the 10th year for Pinal Partnership at its Dec. 9 breakfast meeting at Rawhide. His predictions include:
■ 2017 will see exciting economic growth.
■ Donald Trump’s tax plan will not pass.
■ Expect faster growth and higher interest rates.
■ Expect higher inflation and higher after-tax profits.
■ A mild recession is likely in the next four years.
■ Pinal County is seeing the growth it needs with pending Lucid Motors, Attessa Motorsports and PhoenixMart.
■ Expect more announcements of businesses moving to Arizona.
■ International trade is one of the biggest issues facing the United States in 2017. “The last thing we need is a trade war.”
■ Arizona needs to closely watch its important trade with Mexico under the new president.
■ Up to 80 percent of existing businesses will comprise most of the job growth in Arizona.
■ Student debt is the top reason people under 35 don’t buy a home.
■ Baby boomers are prepared to sell their homes and live off equity, creating a large market for apartments.
■ 60.5 percent of American adults own their homes.
■ The largest group of homeowners is between 65 and 84 years old.
This article appears in the January issue of InMaricopa.