Beware False Pundits: No Evidence of New Bubble
Some real estate commentators are making ominous predictions that the market is once again inflating like a bubble. But Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business, says there is no evidence in the data to support their assertions. Similarly, history shows that rising interest rates do not deflate buyer interest. Listen to this seasoned expert explain in this conversation about the latest Greater Phoenix Housing Report.
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Plow Horse Economy Will Continue to Recover -- Slowly
The general consensus on Arizona’s economic outlook for the second half of 2013 is this: Arizona, like the nation, is likely to continue growing, but slowly. In some areas of the economy -- like jobs -- we’ll have to get used to a new normal. In other areas -- like GDP -- full recovery is still years away. Economists from the W. P. Carey School of Business delivered this analysis that the Annual Economic Outlook Luncheon on May 16.
What Do You Know about Economics?
How confident are you that you understand background facts on economic issues? Attendees at the W. P. Carey School’s Annual Economic Outlook Luncheon on May 16 took this test of economic knowledge. Here’s your chance to take the challenge. When you are finished, check the answers.
Arizona’s Pace Slow, but Still Faster than U.S.
The W. P. Carey School’s top economists weighed in on conditions in Arizona and across the nation at the Annual Economic Outlook Luncheon. Moderated by dean emeritus and management professor Robert Mittelstaedt, the speakers looked at unemployment, the labor markets, the housing market and the state budget, among other topics.
The Come Back Market
Rumblings in the media hint that rising home prices could be the start of a new bubble, but real estate expert Mike Orr says that researchers who are examining the data don’t believe it. Instead, he says Phoenix is experiencing a market come back. The market continues to be complex, however, with supply constrained and the homebuilding industry cautious. Based on March data for land transactions, the hot area for homebuilding is likely to be Southeast Gilbert, Southeast Mesa and Queen Creek.