How is the Economy, Really?
That's a very good question! Since we've just experienced one of the worst recessions in history, no one wants to experience that again! Catching up on the news from Arizona State University (ASU), I spotted this interesting article regarding forecasting. Are we indeed over the rainbow?
Robert Dye, Comerica Bank Chief Economist, just earned the Lawrence R Klein Blue Chip award for Forecast Accuracy. The award is given annually by the WP Carey School of Business, Arizona State University. Dye has hit the nail on the head as one of the "most accurate" forecasters from 2011 through 2014. That's pretty tough to match!
Dye provides his insights in this recent article by ASU. Consumer confidence has been tricky in this post recession era. Most folks still think we are on shaky ground. Not so says Dy,
"Comerica Bank Chief Economist Robert Dye says it’s time to take a different perspective on the economy. Short story: “We need to get past the view that the economy is just now recovering. We’re actually in the middle of the expansion.”
Dye goes in the article to provide good news and forecasts of what we can expect based on global indicators. Don't expect interest rates to rise just yet.
As home buyers and sellers work to buy and sell homes, maybe this tidbit will give them some assurance that we are in good times. We are in an expansion period. Home starts are down in Phoenix for Q4, but building permits are up.
There is a labor shortage in the housing industry in Phoenix. Next year we will most likely see at least a 4% appreciation and probably more. It all depends on location and condition.
For reports in your area in Maricopa County, give me a call. I'm happy to search by zip code and price for what's going on in your area.
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