When I was Chief Economist at the Real Estate Center at Texas A&M University, I also had the opportunity to serve for two years as President for the campus-wide academic honor society, Phi Kappa Phi. I am also a member of Phi Kappa Phi—from when… Read more

Jobs are everything creating demand for real estate. Period. Then add to that the supply and demand for real estate, and most questions are answered regarding value changes and price trajectory. That said, national median list prices of homes for sale increased 2.54 percent in… Read more

Jobs are everything to an economy. Period. Where ever jobs go, so goes the demand for housing. And where ever roof-tops go, so goes the demand for commercial real estate. The latest metropolitan statistical area (MSA) seasonally-adjusted employment data (as of September 2012), are compared… Read more

Economics 101 teaches us that price changes in assets, goods and services are a function of supply and demand. The economic demand (versus demographics demand) for real estate is a function of job growth and income. HomeVestors® (the real estate franchise with the signs that… Read more

(written on September 12/2012) A paltry 96,000 jobs were added in August 2012, while at the same time there are an estimated 120,000 to 140,000 net new additional people entering the workforce – and that happens every month. So in reality, unemployment got worse. But… Read more

One of the definitions of the word phoenix is a renewal after a calamity, and that is so appropriate for the real estate markets and economy of Phoenix, Arizona. I had the opportunity to again make the annual journey and speak in Phoenix this week… Read more

At the age of 58, reality is starting to magnify when retirement comes into play and what impact, if any, there will be on our standard of living.  So what is the magic number in having savings to retire and what age to retire? Unfortunately,… Read more

This past week Allen Berryman (CFO) suggested that I look at housing sales with respect to unemployment rates.  Wow.  Almost a perfect inverse relationship.  The Pearson Product Moment Correlation Coefficient was slightly greater than 0.80.  Jobs are everything.  Period.     Once again the data… Read more

Home affordability is a function of the cost of the home, monthly payments (mortgage payment, taxes and insurance), and the level of income at that locale.  The National Association of Home Builders and Wells Fargo compiled a list of the 10 Cities With the Most… Read more

I had the opportunity to speak this week at the Midwest Regional ERC Conference in St Louis.  When I talked with individuals from across the country I realized how important the statement is that “There Is No Such Thing As A National Real Estate Market —… Read more