Is Tucson Recession Proof?

In an opinion piece in todays Arizona Daily Star, Economist Richard Carlson has an optimistic view of Tucson's future economic prospects. While outlining the excesses in the real estate markets of a few years ago, Carlson believes that Tucson's economic foursome of DM, the U of A, Hi Tech and retirees will keep our city in the black, even if other parts of the country suffer a recession. He is predicting a growing local real estate market by 2009 and another Baby Boomer "boom" by 2012. Here is a link to the article.

In light of today's near record low mortgage interest rates, the huge selection of homes available and motivated sellers who are offering incentives, perhaps it would be prudent to buy the home you want now, at an affordable price and rate. The alternative is trying to catch the bottom, while risking paying more for your dream home and gambling on tomorrow's mortgage market. If you consider the long term, buying now may be the best plan.