Today I am attending a CE program that will forecast economic, political, and legislative issues that will effect Collin County and the North Texas area this year. I'll be active blogging throughout the event. I'm sure the list of subscribers will likely overload a server somewhere in India...
8:30 -- Continental Breakfast
9:00 --Oh! Blueberry muffins and coffee, not bad.
9:12 --the MC is funny... Why do event persons think I want to see their computer desktop?
Mark Dotzour, Cheif economist TAMU Real Estate Center, with the economic outlook for 2012.
Home sales should be up 10% in 2012. However, that's improvement from a low position. The government snuck a sales tax (transaction fee) past us. All new houses now have a sales tax at the time of the transaction. Thanks congress. Stupidity. Congress did it to fund two months of payroll tax deductions! Fannie Mae and Freddie Mac has been the slush fund, the read headed step child, the slave, the scapegoat--the corner prostitute for republicans and democrats. If Fannie Mae and Freddie Mac finally die, intrest rates will rise.
Texas is going to double the national job growth whatever that is. But if double a lousy number (due to a crappy congress) may not be impressive. Release sing he US economy depends on four things. Corporate Profits are high but they are sitting on e cash. Our government is devaluing our dollar. Every economic indicator is positive for Texas the LID that's keeping us down is the Fed. The Dodd Frank mortgage laws will fine a lender for a failed mortgage. So lender underwriters are hammering buyers to approve them. THIS IS THE RESULT OF GOVERNMENT REGULATION AND MISMANAGEMENT--BAD POLICY!!!
Folks, there is no free lunch. The low intrest rates we get are artificially low because it helps get them votes. However, your savings account is worthless because theo interest rates are so low. You can't steal your interest rate and make a 12% return on your investments!
No one talks about second mortgages either. If the standard mortgage costs a bank 40% of the loan value. The second mortgage costs you 100% of the loan value! Foreclosing on gillions of dollars of thes mortgages would dissolve many banks. The government is artificially propping this up. It's like a man who is bleeding to death internally, but his doctor keeps advertising that he healthy because after all, you don't see any blood, right?
We are going to sell more houses in Texas this year.
Interest rates are going to stay low.
Home prices are going to stay flat in Texas.
Douglas e. Oldmixon, Admin. from TREC
Industry regulation inside info... Etc., etc...
Dan Kessler, Assistant Director of Transportation, North Central Texas Council of Governments
Population growth is rising in DFW and it is still on the rise. Collin county is even more positive. by 2035, Collin County is projected to grow to ten million persons! DFW is the 12th largest economy in the world! He forecasts the growth of the Regional Rail System. The A-Train allows the use of existing rail that was once for freight and other purposes.