NO PLACE BUT UP

[John Thedford]

Feb 10 at Fort Myers Board of Realtors: Ted Jones speaks. I copied and pasted this from the board website:

No Place But Up – Interest Rates, Rents, Prices, Real Estate and the Economy Ted C. Jones, PhD Chief Economist – Stewart Title Guaranty Company 2014 saw the U.S. return to a normal economy: • The U.S. has more jobs than ever before • The last time the U.S. was growing as many jobs (average per month for the prior 12 months) was 2006 • Almost 60 percent of the jobs created in 2014 had salaries greater than the U.S. median income Real estate has essentially got back to normal—in both the housing and commercial markets. • Commercial markets sales volumes grew double digits percentage wise • Normal seasonality in housing sales sees a decline from July to August and from August to September, but just the opposite happened as sales volumes trended up in the fall • Demographics make the U.S. different from most developed countries, as the U.S. is growing in population rather than shrinking • Demand for housing continues to outstrip supply as the U.S. added more than 2.6 new jobs per new dwelling unit built in 2014 versus the normal 1.25 to 1.5 new jobs per new dwelling • Residential and commercial rents will continue to escalate Challenges in 2015 include: • Rising interest rates • Escalating construction costs • New residential closing disclosures and documents • An income-challenged Federal Government • Ongoing and growing regulatory requirements impacting real estate • Stalemate in Washington, DC Opportunities in 2015 • Rising new and existing home sales – ditto prices • Robust investor demand for commercial properties • Continued rising residential and commercial rents • Highly affordable energy costs

This is FREE to members. I have heard he is an awesome speaker and look forward to hearing him.