This week at Realty Roundup in Austin Mark Dotzour, Chief Economist and Research Director at Texas A & M University’s Real Estate Center, had some positive words about Austin real estate.
He feels that, because of Austin’s strong job growth, the low interest rates, and our modest appreciation, we will emerge from the global downturn in a good position for continued growth.
Dotzour said that, in general, when the inventory of homes on the market is at a 6.5 month level, the market is balanced. We are currently at a 6 month level, meaning our market is active and heading upward. We have gone through all the current hits that have sent markets declining across the country, and we are still strong. If the surprise ending, the credit default swaps, don’t swamp us, we’ll make it just fine and be in good shape for the typical spring buying season. This is what I am seeing in my practice as well. After the election, folks, after the election….
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This guy is nothing but a pollyanna shill for the real estate business. He has consistently been wrong over the last 2 years. Anyone who acts on this guys research is an idiot.