Pollack is perhaps the most well known economist in Arizona.

And he is not a “Yes” man. I’ve heard him make some pretty dreary forecasts in the past.

Therefore, the long-term outlook remains favorable. In the short term, absent some unusual shock, the local economy will continue to grow, albeit at a slower rate. This business cycle still has a couple of good years left in the tank. During this period, we should be well-positioned to again lead the nation in terms of growth.

If Arizona has a couple of good years left, that should be enough to digest most of the excess inventory of homes for sale.