Phoenix and Tuscan expected to get an economic hit as we lose the boomers

Thanks for sharing. Honestly, I think Phoenix/Tucson has a future but I think it's only going to be a place where the rich will be able to live. Boomers had the opportunity to buy homes when they were still affordable and the dollar went a long way. It's going to get to a point where most of the boomers are dead and Gen X start to get into their 60's and 70's. Unlike boomers, most of them don't have the capital to buy those homes that got left behind because they got screwed by the economy. Most millennials are even worse off. So you're going to have a situation where only rich Gen Xers and Millennials will be moving here. With the real estate market getting more and more expensive NOW, to the point that average Joes are getting priced out, I can't imagine who's going to be able to afford these homes 20 years done the road. ESPECIALLY when you take into consideration water will more than likely become an expensive commodity in the Southwest, 20 years done the road. Tucson is having issues right now because they're pumping out more groundwater than what's going in. Phoenix on the other hand is having to decide what's more important; agriculture or more retail/housing development. Both of which contribute to the economy.

/r/phoenix Thread