Smooth Sailing for High Desert Economy

According to the Victorville Daily Press, March 1, 2018, with the theme “Review. Forecast. Grow,” the annual High Desert Real Estate Symposium, held at the Hilton Garden Inn Conference Center in Victorville, drew civic leaders, and those in the real estate and business industry, who discovered housing starts are up, unemployment is down and the future economic outlook looks promising. The Inland Empire saw approximately 15,000 housing starts in 2017, up 43 percent over 2016, with a historical average of about 23,000 units. A local broker said new housing starts in the High Desert in 2017 increased by 17.4 percent over the previous year, with 1,286 homes needed to balance the local market. Employment gains over the last 10 years have been in education/health, logistics and leisure, with the hospitality, automation, delivery and technology sectors expected to see major growth in the years to come, said a Claremont McKenna College professor. The President of a local real estate brokerage noted the cannabis industry has radically changed the commercial industry in Adelanto. As cannabisbased businesses pay top dollar to move into Adelanto, property owners are making a tidy profit and relocating their companies to surrounding municipalities, he said.

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