Hello,
I was reading this yesterday and found it very interesting. Looks like we are not the only ones that believe that our market is much better than others.
Real Estate Center Online News
May 13, 2008
CENTER'S CHIEF ECONOMIST TELLS IT LIKE IT IS
TEMPLE (Temple Daily Telegram) - Widely known for his "tell-it-like-it-is" style, Dr. Mark Dotzour told 250 Temple and Bell County residents that they - and Texas in general - are faring better than the rest of the country economically, but that the situation can always change.
"People are still wealthy; this country is still strong; but people are taking a wait-and-see attitude," said the chief economist for the Real Estate Center at Texas A&M University.
"So far, we've been pretty immune to what's going on at the national level. But we have got to be careful. We're isolated from the national problems, but we aren't immune to them."
Still, Dotzour liked what he saw in Bell County.
"The local real estate market here has completely avoided what's going on at the national level. I like the looks of what's going on here because building is off a little. That's good because we need fewer new homes built across the nation," Dotzour said. "Bell County is responding correctly, in my opinion, to this situation by reducing the supply of new homes. That's healthy for the local market."
Dotzour's straightforward approach was especially evident as he addressed the Trans-Texas Corridor and ethanol, two highly charged issues in Bell County.
"We need a Texas corridor desperately," Dotzour said. With a projected 13 million more people coming to Texas by 2030, he said the state needs more infrastructure to help ensure continued economic growth.
Regarding ethanol subsidies by the federal government, Dotzour said with a food crisis in 33 countries, using corn for ethanol doesn't make sense ethically. He also said making corn ethanol is "absolutely wrecking our economy."
"You put a third of our corn crop in the gas tank, and what happens? Corn goes up. Wheat goes up. Rice goes up. Oil goes up. The value of the dollar goes to nothing, and gasoline's $3.50," he said.
