Via Phoenix Business Journal.

We don’t know how this might hit jobs at Intel’s fab in Chandler, AZ.

And it’s unknown what effect, if any, such job cuts might have on the real estate market in Chandler, Gilbert and Ahwatukee. It probably wouldn’t be good, especially for higher priced homes.

Thank goodness Phoenix has a diversified economy.

For Rio Rancho, New Mexico, however, this announcement does put a large question mark on home prices. Intel also has a fab in Rio Rancho, New Mexico. The economy there is much less diverse than metro Phoenix.

RELATED: Why Intel’s new $1.7 billion Chandler facility is sitting empty

On The Other Hand

Apple is starting to hire for it’s new Sapphire manufacturing plant in Mesa, Arizona.