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Show Advertising supplement produced by Newspaper AgencyCor p. It’s pleasant to read in the pa- peror hear on the newsthat Utah’s economyis strong and progressing. Whenreflecting on such headlines we begin to realize that such news also brings some attendant complications, if not Sunday, December 31, 1995 tpfla NELShber oo omies in the nation. Of the seven Mountain states, four are among the 10 fastest growing states in the country. As a result, they are also the areas with the strongest growing housing markets. The growth of the Mountain states’ economies in recent years is somewhatattributable to the demise of the previously buoyant California economy. A low-cost, low-regulation alternative to operating in California has been relocating to any of the seven Mountainstates. As federal subsidies such as defense contracts have disappeared from the California economy, many businesses found they needed a low-cost alternative location. As a result, the majorcities in each Mountain state, with the exception of Wyoming, are experiencing strong expansion growth. Utah, which during the iast 12 months has experienced a 6 percent increase in employment, is the leader amongall states in creating new jobs. Nevada and New Mexico have seen employment grow near the 5 percent mark, and in Arizona the increase was 3.5 percent. The housing markets in each of these states has exploded in the 1990s in response to the economic strength of the region I believe that most Utahns share the feeling that once people become familiar with the benefits of living in Utah, it’s easy to find an excuse to move here — even in unfavorable economictimes. Instead of being driven to the Salt Lake Valley, as was the case in the early days of Utah history, people today are now attracted to the state — being pulled to Utah rather than pushed. Unfortunately, all of this economic strength and the resultant growth Utah has recently enjoyed leads to an increased cost of housingin thestate. A recent press release stated that Kansas City was the nation’s most affordable placeto live. San Francisco remained theleastaffordable and Utah housing is somewhere between these two extremes. The measurement of afSeverin called the Housing Opportunity Index, is based on J] Oncejusta retiree’s dream, St. George now attracting more diversified residents outright problemsfor Utahns to solve. The Mountain states represent the most rapidly expanding econ- s By George, Utah’s Dixieis placeto be oe os Strong economybrings good, bad newsfor prospective homeowners If you growit. mowit, and flowit they will come ... with golf clubs sunscreen and pull carts in tow If you groomit, fine-tune it, if you the median household income and let golfers boom it — in January be the price distribution of the tween canyons and over ravines homesactually sold in each marthey will not only come, but theyll ket area. What this meansis that bring their friends and neighbors low housing costs do not always with them translate into affordable housing That was the theory behind many if the area’s collective household a developer during the past few decincomeis also low. ades of growthin St. George, a theThe survey listed the cost of ory that proved as keen as Newton's Washington County Travel/Frank Jensen The sprawling St. George community has something the average homein the Kansas to offer residentsof all appraisal of gravity ages. City area to be $84,000. The meLike the apple dropping from the dian family income for Kansas tree, snowbirds from northern Utah City is $44,600. Therefore, the andneighboringstates continue to Housing Opportunity Index sugdropin on St. George during the gests that a family earning this winter months. Whether it’s to play median incomecould afford 87 a fewrounds on anyof St George's percent of the homes sold in Kanseven championshipgolf courses, or sas City during the 1995 third simply to recharge thebatteries, requarter survey period laxing in the hospitable desert cliThe medianprice for homes in mate, St. George has becomeUtah's the Greater Salt Lake area is answer to Palm Springs — sans attiabout $112,500. Because of the tude economic strength Utah is experiMormonChurchleader Brigham encing, the median price of a Youngfirst surveyed the landthat is homein Salt Lake could very nowSt. George in 1861 whilevisitwell increase to about $121,000 ing the Rio Virgin Valley. So imduring 1996 pressed with the region andits natuDespite the inherent problems ral surroundings, Young eventually associated with Utah’s healthy bought and restored a homethereto economy, there is some good serveas a retreat from the harsh news for prospective homeownSalt Lake winters Today, Young is ers. Two weeks ago the Federal held largely responsible for the comReserve Board of Governors votmunity’s establishment, if not prosperity. ed to reduce short-term interest rates by one quarter percent. “Therewill yet be built between those voleanic ridges a city with The lowering of the rate was spires, towers and homes with done even as Congress and the President were pushing and shoymanyinhabitants,” Young said after first seeing the area ing over a balanced budgetbill. Many banks announcedthat they Thefollowing fall Young instruct ed 309 families, then living happily would follow the Fed’s lead by and comfortablyoff the fertile land cutting their prime lending rate in the Salt Lake Valley, to establish to 8.5 percent fromthe prevailing a settlement in St. George. Much to 8.75 percent. This should provide their collective chagrin, the families a little relief to businesses and incommenced preparation for the 300dividual borrowers who have mile trek, with golf thelast thing on loans tied to the prime rate, intheir minds. cluding homeequity loans. able | ts y Young's plans for the earlyresiThis move is also expected to hington County Travel/Frank Jensen dents of St. George included growing help homebuilders and prospecGreen Spring, one of sevenSt. George golf courses, has been the subject cotton and grapes, and to harvest of national acclaim. tive homeownersby solidifying a recent drop in mortgageinterest See ST. GEORGE, Page G2 rates that has brought long-term 30-year mortgage rates down to the 7.25-percent range St. George/Washington County... © Was foundedin 1861 at the behest of Brigham Young. So the good newsis that a good @ Is located in the southwestern mostcorner ofthestate. economyis ahead for Utah, espe@ Is the homeof Dixie College,a full-service communitycollege. cially during the upcomingyear. @ Is ranked among the top retirement communities in the nation. The not-so-good newsis a continr © Plays host to the annual Huntsman Chemical World Senior Games. ~ uation of price increases for » @ Features two ofthe five top-ranked golf coursesin the state. e homesin our area. Next Week: Woods Cross IVORYit HO Utah’s Number One Homebuilder. start the New Year Of ight - Visit an Ivory “> *~Model Home Today! Apple Leaf Stratford Model Home 900 South 1150 East Pleasant Grove, 785-8184 Hundley Haven Cranberry Hill Sandy Woods Lancaster Mode! Home 450 East 11400 South Draper, 553-8300 400 East 7500 South Sandy, 561-8800 Bennion Cove Westpointe Newport Model Home Sterling Model Home 3605 South 700 East Millcreek, 262-7979 New Haven Model Home Canterbury Model Home 5260 South 2700 West 900 N. Redwood Road Bennion, 964-0700 Salt Lake City, 595-4500 Bountiful Shadows Foxbridge Columbia Heights Chesterfield Model Home Windsor Model Home 475 W. Pages Lane (1600 North) 760 West 1600 North Bountiful, 292-6500 Centerville, 292-4667 Southwick Model Home 1794 So. Frontage Road Kaysville, 451-7069 Ravenwood Cross RoadsII Sterling Model Home 1020 North 60 East Layton, 546-4450 Heatherwood Stratford “B" Model Home Southwick Model Home 3468 West 5600 South 4440 East 5875 South Roy, 773-4400 South Ogden, 476-1300 Holiday Hours: New Year's Eve 2:00 - 5:00 p.m. New Year's Day 12:00 - 6:00 p.m. * 2. |