2016 Economic Forecast

Size: px
Start display at page:

Download "2016 Economic Forecast"

Transcription

1 2016 Economic Forecast Moderator: Emory Thomas Publisher Puget Sound Business Journal Forecasters: Erik Ristuben Chief Investment Strategist Russell Investments Aaron Terrazas Senior Economist Zillow Chris Mefford President & CEO Community Attributes Inc. The Future of the Connected Economy Building Prosperity Across the Region

2 2016: Russell s Global Economic Outlook Global Economy good, not great The economy continues to grind along at a modest pace ~3.0% Recession risks remain low in 2016 The euro zone still has gas in the tank Earlier innings of its economic expansion Looking for % real GDP growth in 2016 The European Central Bank remains very accommodative EM still not out of the woods China is in controlled slowdown, GDP growth 6.5% in 2016 Transitioning from an investment to the consumer to lead economy Expect them to use investment if needed to maintain growth Commodities still weak Russell and Russell Investments are registered trademarks of the London Stock Exchange plc.

3 NATIONAL AND PUGET SOUND HOUSING OUTLOOK 2016 Aaron Terrazas Senior Economist, Zillow Research 3

4 Macro themes for 2016 Economic and employment growth shifts back to the (more expensive) coastal service hubs from the (comparatively cheap) Shale Belt. Growing appeal of the Northwest and Mountain West for Silicon Refugees. Moderate income growth spurs household formation, but mostly new renters. Past investments in multifamily construction helps meets some of this accelerating rental demand (in some markets and more for multifamily than SFR rentals). The yield curve flattens mortgage rates rise less than short-term lending rates, holding purchase affordability in check. But high home values mean that down payments remain the most important barrier for first-time buyers. For sale inventory remains extremely tight for entry-level homes accelerating home values in the bottom tier. Luxury tier home value growth slows. Risks on the horizon: Increased risk of easing of mortgage lending standards associated with election cycle. Could stock market volatility cool tech hub housing markets? 4

5 Economic/employment growth returns to the coasts Percent change in state gross domestic product from year earlier 2012q3 2013q3 2014q3 2015q3 Source: Bureau of Economic Analysis. 5

6 Strong home value growth in the Seattle area in % +5.4% +5.8% +5.1% +6.0% +2.6% 6

7 Seattle is still a bargain compared to Silicon Valley Source: Zillow analysis of U.S. Census Bureau, Longitudinal Employer-Household Dynamics Origin-Destination Employment Statistics (LODES), and Zillow data on home values. 7

8 8 Essentially all new households formed over the past decade have been renters

9 Seattle-area rents rising, particularly for SFRs Single-Family Residence Multi-Family Residence Metro Median Rent Annual Change Metro Median Rent Annual Change Seattle $1, % Seattle $1, % City Median Rent Annual Change City Median Rent Annual Change Seattle $2, % Tacoma $1, % Renton $1, % Bellevue $2, % Everett $1, % Seattle $1, % Tacoma $1, % Renton $1, % Bellevue $1, % Everett $1, % 9

10 10 Mortgage and rent affordability

11 Mortgage rates have declined since the first Federal Funds Rate hike in December 30-year fixed mortgage rate on Zillow, excellent credit score Last 30 days Last 365 days Dec. 16: Fed rate announcement 11

12 Saving for a down payment is now the key challenge for first-time homebuyers Low rent burdens don t guarantee a higher savings rate, but higher rent burdens make saving very difficult Social networks/family more important than ever as down payment source for first-time home buyers 12

13 13 Luxury markets around the country are slowing; entry-level markets are doing well due to low supply

14 14 Negative equity is a key supply constraint in entrylevel markets

15 15 RISKS ON THE HORIZON

16 16 Mortgage credit remains relatively tight compared to boom years.

17 But political pressure could build to ease credit Survey of 120 leading economists. Source: Zillow Home Price Expectations Survey administered by Pulsenomics, May

18 18 Could stock market volatility cool tech hub housing markets?

19 19

20 20

21 Circular Flows of the Economy

22 Exports from the Greater Seattle Region, U.S. Census Bureau; Brookings Institute; Trade Partnership; Community Attributes Inc.

23 National GDP Growth Trend & Forecasts National GDP 2.2% CAGR % to 2.8% Growth in 2016

24 Puget Sound Regional Jobs, Jobs (1,000s) Government Trade Manufacturing Construction Aerospace Washington State Employment Security Department

25 Employment Change Trends & Forecast Central Puget Sound Region, Annual Growth Historic Forecast Community Attributes Inc., 2016

26 Employment Trends & Forecast Central Puget Sound Region, Non-farm Jobs Community Attributes Inc., 2016 Forecast growth of 1.4% per year between growth of 2.5%.

27 Strengths & Growth Central Puget Sound Region U.S. Bureau of Labor Statistics, WA State ESD

28 Aerospace U.S. Bureau of Labor Statistics, WA State ESD

29 What to Watch 2016: Aerospace Boeing Historic backlog; productivity Significant dependence on China Major price competition underway Local jobs part of nationwide capacity puzzle Other Aerospace Continued growth in smaller companies Supply chain diversification

30 Information U.S. Bureau of Labor Statistics, WA State ESD

31 What to Watch 2016: Technology Microsoft Windows 10 Adoption Cloud: Azure vs Amazon Virtual Reality Xbox, wearables, Surface Amazon Cloud: Azure vs Amazon So Many Others! Other industries Company headquarters Start-ups IPOs Funding

32 IT Industries Circle size indicates relative size (jobs) of Industry and Tech Units

33 Occupational Concentration (Location Quotient) Washington State and Seattle MSA, 2014

34 Manufacturing U.S. Bureau of Labor Statistics, WA State ESD

35 What to Watch 2016: Manufacturing Key local industries Ship Building Food Production Craft Manufacturing Construction Related China Makers spaces Small businesses

36 Other Exports

37 Puget Sound Regional Growth Annual Change in Jobs & People Office of Financial Management, Washington State Employment Security Department Change in Jobs Net Migration

38 Regional Population Projections Annual Net Change in Population Population in the central Puget Sound region is expected to pass 4.0 million in about a year, and reach 4.2 million by Historic Forecast Community Attributes Inc., 2016; Puget Sound Regional Council, 2015.

39 Employment Forecast,

40 Household Forecast,

41

THE STATE OF THE ECONOMY

THE STATE OF THE ECONOMY THE STATE OF THE ECONOMY CARLY HARRISON Portland State University Following data revisions, the economy continues to grow steadily, but slowly, in line with expectations. Gross domestic product has increased,

More information

D. A and B D. Exports of Goods and Services (EX) D. +$50 F. A, B, and C E. A and C

D. A and B D. Exports of Goods and Services (EX) D. +$50 F. A, B, and C E. A and C 1. When considering international trade, economic gains from trading item A for item B A. are possible if one country is better at producing item A and another country is better at producing item B. B.

More information

Colorado Springs, Colorado

Colorado Springs, Colorado C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S Colorado Springs, Colorado U.S. Department of Housing and Urban Development Office of Policy Development and Research As of August 1,

More information

C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S. Pueblo, Colorado. Summary. Economy

C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S. Pueblo, Colorado. Summary. Economy C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S Pueblo, Colorado U.S. Department of Housing and Urban Development Office of Policy Development and Research As of May 1, 26 Summary Housing

More information

Metro Economic Outlook: Seattle

Metro Economic Outlook: Seattle Metro Economic Outlook: Seattle A successful technology industry has brought prosperity to much of the Seattle region, but local officials are trying to branch out in order to further diversify the economy.

More information

The U.S. and Midwest Economy in 2016: Implications for Supply Chain Firms

The U.S. and Midwest Economy in 2016: Implications for Supply Chain Firms The U.S. and Midwest Economy in 2016: Implications for Supply Chain Firms Rick Mattoon Senior Economist and Economic Advisor Federal Reserve Bank of Chicago Right Place Supply Chain Management Conference

More information

July 2013 King County Economic and Revenue Forecast

July 2013 King County Economic and Revenue Forecast July 2013 King County Economic and Revenue Forecast Briefing to the King County Forecast Council July 24 th, 2013 Dave Reich, Chief Economist Office of Economic and Financial Analysis Summary The U.S.

More information

2013 global economic outlook: Are promising growth trends sustainable? Timothy Hopper, Ph.D., Chief Economist, TIAA-CREF January 24, 2013

2013 global economic outlook: Are promising growth trends sustainable? Timothy Hopper, Ph.D., Chief Economist, TIAA-CREF January 24, 2013 2013 global economic outlook: Are promising growth trends sustainable? Timothy Hopper, Ph.D., Chief Economist, TIAA-CREF January 24, 2013 U.S. stock market performance in 2012 * +12.59% total return +6.35%

More information

Fixed Income 2015 Update. Kathy Jones, Senior Vice President Chief Fixed Income Strategist, Schwab Center for Financial Research

Fixed Income 2015 Update. Kathy Jones, Senior Vice President Chief Fixed Income Strategist, Schwab Center for Financial Research Fixed Income 2015 Update Kathy Jones, Senior Vice President Chief Fixed Income Strategist, Schwab Center for Financial Research 1 Fed: Slow and Low 2015 Fixed Income Outlook 2 Yield Curve Flattening 3

More information

MBA Forecast Commentary Lynn Fisher, Mike Fratantoni, Joel Kan

MBA Forecast Commentary Lynn Fisher, Mike Fratantoni, Joel Kan MBA Forecast Commentary Lynn Fisher, Mike Fratantoni, Joel Kan Stronger Data Lead to Upward Revisions in Purchase Originations Forecast for 2015 and 2016 MBA Economic and Mortgage Finance Commentary: July

More information

Analysis of the Orange County, California Housing Market

Analysis of the Orange County, California Housing Market COMPREHENSIVE MARKET ANALYSIS REPORTS Policy Development & Research Analysis of the Orange County, California Housing Market As of January 1, 2004 ECONOMIC RESEARCH U.S. Department of Housing and Urban

More information

INFLATION REPORT PRESS CONFERENCE. Thursday 4 th February 2016. Opening remarks by the Governor

INFLATION REPORT PRESS CONFERENCE. Thursday 4 th February 2016. Opening remarks by the Governor INFLATION REPORT PRESS CONFERENCE Thursday 4 th February 2016 Opening remarks by the Governor Good afternoon. At its meeting yesterday, the Monetary Policy Committee (MPC) voted 9-0 to maintain Bank Rate

More information

Monthly Economic Dashboard

Monthly Economic Dashboard RETIREMENT INSTITUTE SM Economic perspective Monthly Economic Dashboard Modest acceleration in economic growth appears in store for 2016 as the inventory-caused soft patch ends, while monetary policy moves

More information

Best Purchase Markets for Aspiring Millennial Homebuyers. NAR Research June 2016

Best Purchase Markets for Aspiring Millennial Homebuyers. NAR Research June 2016 Best Purchase Markets for Aspiring Millennial Homebuyers NAR Research June 2016 Best Purchase Markets for Aspiring Millennial Homebuyers NAR Research June 2016 2016 National Association of REALTORS All

More information

San Antonio, Texas. Summary. Housing Market Area. Market Details. Economy. Rental Market. Sales Market

San Antonio, Texas. Summary. Housing Market Area. Market Details. Economy. Rental Market. Sales Market COMPREHENSIVE HOUSING MARKET ANALYSIS San Antonio, Texas U.S. Department of Housing and Urban Development Office of Policy Development and Research As of October 1, 2008 Summary Housing Market Area Kerr

More information

Advanced economies driving global growth. Monetary policy still expansionary but tapering

Advanced economies driving global growth. Monetary policy still expansionary but tapering April 22, 2014 Advanced economies driving global growth Monetary policy still expansionary but tapering Interest rates remain favorable Investors recalibrating their portfolios More certainty in fiscal

More information

The Value of a Home. RCIO Monthly Market Advisor

The Value of a Home. RCIO Monthly Market Advisor The following information and opinions are provided courtesy of Wells Fargo Bank N.A RCIO Monthly Market Advisor The Value of a Home JULY 16, 2015 Regional Chief Investment Officers Sean McCarthy, CFA,

More information

2015 Texas Economic Outlook: Tapping on the Brakes Keith Phillips Sr. Economist and Research Officer

2015 Texas Economic Outlook: Tapping on the Brakes Keith Phillips Sr. Economist and Research Officer 215 Texas Economic Outlook: Tapping on the Brakes Keith Phillips Sr. Economist and Research Officer The views expressed in this presentation are strictly those of the presenter and do not necessarily reflect

More information

13.8% Inflation-adjusted GDP (billions) Cumulative growth 2009 to Q3 2015. Exhibit 1 Steady U.S. Economic Growth After a Severe Recession $17,000

13.8% Inflation-adjusted GDP (billions) Cumulative growth 2009 to Q3 2015. Exhibit 1 Steady U.S. Economic Growth After a Severe Recession $17,000 Exhibit 1 Steady U.S. Economic Growth After a Severe Recession Inflation-adjusted GDP (billions) $17,000 $16,000 $15,000 $14,000 $13,000 13.8% Cumulative growth 2009 to Q3 2015 $12,000 $11,000 $10,000

More information

MBA Forecast Commentary Joel Kan, jkan@mba.org

MBA Forecast Commentary Joel Kan, jkan@mba.org MBA Forecast Commentary Joel Kan, jkan@mba.org Weak First Quarter, But Growth Expected to Recover MBA Economic and Mortgage Finance Commentary: May 2015 Broad economic growth in the US got off to a slow

More information

THE STATE OF THE ECONOMY

THE STATE OF THE ECONOMY THE STATE OF THE ECONOMY ADAM SEIDMAN Portland State University In its latest report, the Oregon Office of Economic Analysis noted that full employment is finally within sight in Oregon. Indeed, 2015 saw

More information

Cement Supply Survey

Cement Supply Survey June 8, 2004 Cement Shortage Assessment Update Material specifiers frequently have to choose between concrete and alternative building materials. As the use of concrete has grown, cement shortages have

More information

Investment Symposium March 14-15, 2013 New York, NY. Session E5, U.S. Economic Conditions and the Housing/Mortgage Market

Investment Symposium March 14-15, 2013 New York, NY. Session E5, U.S. Economic Conditions and the Housing/Mortgage Market Investment Symposium March 1-15, 213 New York, NY Session E5, U.S. Economic Conditions and the Housing/Mortgage Market Moderator: Jonathan Glowacki Presenter: David Berson Housing & Mortgage Market Outlook

More information

Greater Richmond Regional Housing Trends: Changing Demographics and Housing Needs

Greater Richmond Regional Housing Trends: Changing Demographics and Housing Needs Greater Richmond Regional Housing Trends: Changing Demographics and Housing Needs Henrico County Planning Commission April 15, 2010 Virginia Housing Development Authority VHDA has identified six major

More information

Massachusetts Department of Revenue. Briefing Book FY2015 Consensus Revenue Estimate Hearing. December 11, 2013. Presented by: Amy Pitter COMMISSIONER

Massachusetts Department of Revenue. Briefing Book FY2015 Consensus Revenue Estimate Hearing. December 11, 2013. Presented by: Amy Pitter COMMISSIONER Massachusetts Department of Revenue Briefing Book FY2015 Consensus Revenue Estimate Hearing December 11, 2013 Presented by: Amy Pitter COMMISSIONER Kazim P. Ozyurt DIRECTOR OFFICE OF TAX POLICY ANALYSIS

More information

What Will 2015 Hold for the Seattle Economy & Residential Real Estate Market?

What Will 2015 Hold for the Seattle Economy & Residential Real Estate Market? What Will 2015 Hold for the Seattle Economy & Residential Real Estate Market? A Presentation to Windermere Wall Street Group Presented by: Matthew Gardner Managing Principal 415 Westlake, Seattle 524 Second

More information

Chapter 11: Activity

Chapter 11: Activity Economics for Managers by Paul Farnham Chapter 11: Measuring Macroeconomic Activity 11.1 Measuring Gross Domestic Product (GDP) GDP: the market value of all currently yproduced final goods and services

More information

County Demographics, Economy & Housing Market

County Demographics, Economy & Housing Market County Demographics, Economy & Housing Market County Demographics Palm Beach County is Florida's third most populous county with 7% of Florida's population. The county's total estimated population for

More information

2016 Year Ahead - Global Investment Outlook

2016 Year Ahead - Global Investment Outlook PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook & Strategy January 2016 2016 Year Ahead - Global Investment Outlook After Struggling in 2015, Global Equity Markets likely

More information

ENGINEERING LABOUR MARKET

ENGINEERING LABOUR MARKET ENGINEERING LABOUR MARKET in Canada Projections to 2025 JUNE 2015 ENGINEERING LABOUR MARKET in Canada Projections to 2025 Prepared by: MESSAGE FROM THE CHIEF EXECUTIVE OFFICER Dear colleagues: Engineers

More information

Analysis of the St. Cloud, Minnesota Housing Market

Analysis of the St. Cloud, Minnesota Housing Market COMPREHENSIVE MARKET ANALYSIS REPORTS Policy Development & Research Analysis of the St. Cloud, Minnesota Housing Market As of January 1, 2004 ECONOMIC RESEARCH U.S. Department of Housing and Urban Development

More information

Salt Lake Housing Forecast

Salt Lake Housing Forecast 2015 Salt Lake Housing Forecast A Sustainable Housing Market By James Wood Director of the Bureau of Economic and Business Research Commissioned by the Salt Lake Board of REALTORS By year-end 2013 home

More information

MBA Forecast Commentary Joel Kan, jkan@mba.org

MBA Forecast Commentary Joel Kan, jkan@mba.org Jun 20, 2014 MBA Forecast Commentary Joel Kan, jkan@mba.org Improving Job Market, Weak Housing Market, Lower Mortgage Originations MBA Economic and Mortgage Finance Commentary: June 2014 Key highlights

More information

TEXAS HOUSING INSIGHT

TEXAS HOUSING INSIGHT TEXAS HOUSING INSIGHT JAMES P. GAINES CHIEF ECONOMIST WAYNE DAY RESEARCH ASSISTANT LUIS B. TORRES RESEARCH ECONOMIST TECHNICAL REPORT 2 1 2 0 AUGUST 2016 TR Contents About this Report... 3 June 2016 Summary...

More information

2010 Prudential Real Estate Outlook Survey Chart Summary

2010 Prudential Real Estate Outlook Survey Chart Summary 2010 Prudential Real Estate Outlook Survey Chart Summary 1 Many think the time to buy is now In general do you think now is a(n) time for people to buy a home? Not good 7% Bad 3% Who thinks now is an OK,

More information

Titusville, Florida. Summary. Housing Market Area. Market Details. Economy. Rental Market. Sales Market

Titusville, Florida. Summary. Housing Market Area. Market Details. Economy. Rental Market. Sales Market C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S Palm Bay-Melbourne- Titusville, Florida U.S. Department of Housing and Urban Development Office of Policy Development and Research As

More information

Analysis of the Ventura, California Housing Market

Analysis of the Ventura, California Housing Market COMPREHENSIVE MARKET ANALYSIS REPORTS Policy Development & Research Analysis of the Ventura, California Housing Market As of September 1, 2004 ECONOMIC RESEARCH U.S. Department of Housing and Urban Development

More information

US Economic Outlook. How long will the ride last? IHS ECONOMICS. US Outlook

US Economic Outlook. How long will the ride last? IHS ECONOMICS. US Outlook IHS ECONOMICS US Outlook US Economic Outlook How long will the ride last? December 2014 ihs.com Douglas Handler, IHS Chief US Economist, +1 781 301 9283, doug.handler@ihs.com US Economic Overview 2 Executive

More information

Weekly Economic Commentary

Weekly Economic Commentary LPL FINANCIAL RESEARCH Weekly Economic Commentary April 16, 2012 Beige Book Shows Modest Growth John Canally, CFA Economist LPL Financial Highlights The latest Beige Book indicates that the economy is

More information

THE STATE OF THE NATION S HOUSING 2016

THE STATE OF THE NATION S HOUSING 2016 THE STATE OF THE NATION S HOUSING 2016 KEY FACTS Facts from the 2016 State of the Nation s Housing Report from the Joint Center for Housing Studies of Harvard University PURPOSE The State of the Nation

More information

Uncertain Times Require a Long-Term Perspective, Clearly Defined Goals and Discipline

Uncertain Times Require a Long-Term Perspective, Clearly Defined Goals and Discipline Uncertain Times Require a Long-Term Perspective, Clearly Defined Goals and Discipline Executive Summary Miles T. Kirkland, CFA Senior Vice President & Portfolio Manager Wealth Management Services Unlike

More information

Austin: A Theory of Everything How & why Austin is changing and what we should do about it

Austin: A Theory of Everything How & why Austin is changing and what we should do about it Austin: A Theory of Everything How & why Austin is changing and what we should do about it 2014 Realty Round Up Palmer Events Center Austin, TX October 15, 2014 Austin rank among U.S. metros since 2000

More information

DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK

DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK Research Report DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK Second Quarter 2013 Economic Outlook Business and consumer spending to drive recovery Quantitative easing beginning its expected unwinding

More information

Global Cities and Housing

Global Cities and Housing Global Cities and Housing The Sydney Case in its Australian and International Context Vivienne Milligan Context Demography and urban settlement patterns Economic conditions Governance, policy and institutions

More information

Oil & Gas Market Outlook. 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016

Oil & Gas Market Outlook. 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016 Oil & Gas Market Outlook 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016 Challenging Market Environment Concerns that global economic growth will slow and reduce global oil and natural

More information

Abilene, Texas. Summary. Housing Market Area. Market Details. Economy. Rental Market. Sales Market

Abilene, Texas. Summary. Housing Market Area. Market Details. Economy. Rental Market. Sales Market COMPREHENSIVE HOUSING MARKET ANALYSIS Abilene, Texas U.S. Department of Housing and Urban Development Office of Policy Development and Research As of July 1, 28 Summary Housing Market Area Stonewall Runnels

More information

City and County of Denver Investment Portfolio Performance Report

City and County of Denver Investment Portfolio Performance Report Cash & Sr. Report I. Discussion of Volatility returned to capital markets during the third quarter of 2015. Concerns over the impact of an economic slowdown in China, along with mediocre domestic economic

More information

ADVANCE WARNING: FIVE FORECASTERS. Treasury Yield Curve. Leading Economic Indicators. Market Breadth. Purchasing Managers Sentiment.

ADVANCE WARNING: FIVE FORECASTERS. Treasury Yield Curve. Leading Economic Indicators. Market Breadth. Purchasing Managers Sentiment. LPL RESEARCH WEEKLY MARKET COMMENTARY September 26 2016 FIVE FORECASTERS: FEW WARNING SIGNS Burt White Chief Investment Officer, LPL Financial Jeffrey Buchbinder, CFA Market Strategist, LPL Financial Dave

More information

Employment Recovery in Urban Areas following the Great Recession

Employment Recovery in Urban Areas following the Great Recession Employment Recovery in Urban Areas following the Great Recession Ryan Howley Economist Bureau of Labor Statistics, Washington, DC Toby Paterson Economist Employment Security Department, Washington State

More information

Construction Industry Outlook

Construction Industry Outlook Construction Industry Outlook VERSION 01 YEAR 13 OUTLOOK: Structural Weaknesses www.eulerhermes.us Key Points The residential housing market has begun to show a sustained improvement in 2013 as a result

More information

U.S. Economic Health Tracker September 2014

U.S. Economic Health Tracker September 2014 A D&B Monthly Briefing U.S. Economic Health Tracker September 2014 Presented by Paul Ballew, D&B Chief Data & Analytics Officer and Chief Economist Tuesday, September 2, 2014 11:30 AM ET Executive Summary

More information

The Future of C Real Estate Ma

The Future of C Real Estate Ma The Future of C Real Estate Ma anada s rket By Tina Tehranchian 72 The Future of Canada s Real Estate Market by the late 1980s. The recession of 1990-91, however, caused a rapid slowdown in the housing

More information

The Forest Industry: harvest, demand and foreign trade

The Forest Industry: harvest, demand and foreign trade The Forest Industry: harvest, demand and foreign trade Timber Measurements Society Central Meeting April 10, 2014 Coeur d Alene, Idaho 2013 Forest2Market, Inc. 2 Forest2Market Data Experience Expertise

More information

National Housing Market Summary

National Housing Market Summary 4th 2014 March 2015 HUD PD&R National Housing Market Summary The Housing Market Recovery Continues To Make Progress Overall, housing market indicators improved in the fourth quarter of 2014. Starts continued

More information

Interest Rate Forecast

Interest Rate Forecast Interest Rate Forecast Economics December Highlights Fed normalization begins More policy moves in China Canada s uneven economy BoC on hold, lower CAD Per cent 6 4 3 2 1 U.S. Federal Funds Rate A continuation

More information

THE IMPACT OF THE FIRST-TIME BUYER ON THE ILLINOIS ECONOMY WHY IT MATTERS AND HOW TO BRING THEM BACK INTO THE MARKETPLACE

THE IMPACT OF THE FIRST-TIME BUYER ON THE ILLINOIS ECONOMY WHY IT MATTERS AND HOW TO BRING THEM BACK INTO THE MARKETPLACE THE IMPACT OF THE FIRST-TIME BUYER ON THE ILLINOIS ECONOMY $ WHY IT MATTERS AND HOW TO BRING THEM BACK INTO THE MARKETPLACE A As the U.S. housing market continues its rebound, many buyers and lenders are

More information

Quarterly Economics Briefing

Quarterly Economics Briefing Quarterly Economics Briefing March June 2015 2016 Review of Current Conditions: The Economic Outlook and Its Impact on Workers Compensation The exhibits below are updated to reflect the current economic

More information

Palm Bay-Melbourne-Titusville, Florida

Palm Bay-Melbourne-Titusville, Florida COMPREHENSIVE HOUSING MARKET ANALYSIS Palm Bay-Melbourne-Titusville, Florida U.S. Department of Housing and Urban Development Office of Policy Development and Research As of April 1, 2012 Summary Housing

More information

A Strong Housing Recovery Fuels Growth

A Strong Housing Recovery Fuels Growth Chapman University A. Gary Anderson Center for Economic Research FOR RELEASE: ONLINE: June 12, 2013; 10:00 a.m. PRINT: June 13, 2013 CONTACT: James Doti, President and Donald Bren Distinguished Chair of

More information

Denver tops U.S. for home appreciation, Zillow reports

Denver tops U.S. for home appreciation, Zillow reports Page 1 of 7 Log in About Us Sponsors Door 2 Door People In The News Contact Denver tops U.S. for home appreciation, Zillow reports Posted by John Rebchook December 30, 2015 3 Comments Tweet Like 63 Share/Bookmark

More information

The Unsweet Sixteen. The Top 10 Factors Impacting the Economy in 2016. 2007 We are here > Treasury notes. Cash

The Unsweet Sixteen. The Top 10 Factors Impacting the Economy in 2016. 2007 We are here > Treasury notes. Cash The Unsweet Sixteen The Top 10 Factors Impacting the Economy in 2016 Ben Miller, CEO 2007 We are here > 2008 2009 Peak Best-Performing Asset Classes Commodities Recession Bottoming Recovery Expansion Treasury

More information

percentage points to the overall CPI outcome. Goods price inflation increased to 4,6

percentage points to the overall CPI outcome. Goods price inflation increased to 4,6 South African Reserve Bank Press Statement Embargo on Delivery 28 January 2016 Statement of the Monetary Policy Committee Issued by Lesetja Kganyago, Governor of the South African Reserve Bank Since the

More information

Wyoming s Economy Today and Beyond

Wyoming s Economy Today and Beyond Wyoming s Economy Today and Beyond Presented by: Buck McVeigh Economic Analysis Division Wyoming State Government Current Economic Conditions Favorable: Energy: production and prices State revenues: primarily

More information

US HOUSING MARKET MONTHLY

US HOUSING MARKET MONTHLY US HOUSING MARKET MONTHLY th Oct. Editor: Ed Stansfield New build sales finally making some headway Overview: The drop in mortgage rates towards the end of September has given mortgage applications a boost,

More information

Preparing for 2015 Housing Market Opportunities

Preparing for 2015 Housing Market Opportunities January U.S. Economic & Housing Market Outlook Preparing for 2015 Housing Market Opportunities As we enter 2015, the U.S. economy and housing markets are prepared for a robust start. Unlike one year ago,

More information

RENTAL HOUSING AFFORDABILITY

RENTAL HOUSING AFFORDABILITY RENTAL HOUSING AFFORDABILITY With income growth lagging behind the persistent rise in rents, the number of renter households spending disproportionate shares of their incomes for housing hit a new high

More information

Preliminary Investment Trends Report

Preliminary Investment Trends Report Preliminary Investment Trends Report ONTARIO: 215 224 Investment in Ontario s construction industry grows over the medium term in line with a number of proposed major resource development, electric utilities

More information

BANK OF ISRAEL Office of the Spokesperson and Economic Information. Report to the public on the Bank of Israel s discussions prior to deciding on the

BANK OF ISRAEL Office of the Spokesperson and Economic Information. Report to the public on the Bank of Israel s discussions prior to deciding on the BANK OF ISRAEL Office of the Spokesperson and Economic Information September 7, 2015 Report to the public on the Bank of Israel s discussions prior to deciding on the General interest rate for September

More information

PALM BEACH COUNTY Workforce Housing Homebuyer/Renter Information (2015)

PALM BEACH COUNTY Workforce Housing Homebuyer/Renter Information (2015) PALM BEACH COUNTY Workforce Housing Homebuyer/Renter Information (2015) What is the Workforce Housing Program? The Workforce Housing Program provides for the development of workforce housing units in all

More information

HOUSING MARKETS HOUSING CONSTRUCTION TRENDS JOINT CENTER FOR HOUSING STUDIES OF HARVARD UNIVERSITY

HOUSING MARKETS HOUSING CONSTRUCTION TRENDS JOINT CENTER FOR HOUSING STUDIES OF HARVARD UNIVERSITY 2 HOUSING MARKETS Although the news was mixed in 214, housing markets made some advances that set the stage for moderate growth. Singlefamily construction continued to languish, but multifamily construction

More information

CONTINUED STRONG DEMAND

CONTINUED STRONG DEMAND Rental Housing Although slowing, renter household growth continued to soar in 13. The strength of demand has kept rental markets tight across the country, pushing up rents and spurring new construction.

More information

Chapter 12: Gross Domestic Product and Growth Section 1

Chapter 12: Gross Domestic Product and Growth Section 1 Chapter 12: Gross Domestic Product and Growth Section 1 Key Terms national income accounting: a system economists use to collect and organize macroeconomic statistics on production, income, investment,

More information

INVESTMENT STRATEGY & COMMERCIAL REAL ESTATE OUTLOOK

INVESTMENT STRATEGY & COMMERCIAL REAL ESTATE OUTLOOK INVESTMENT STRATEGY & COMMERCIAL REAL ESTATE OUTLOOK Kevin White, CFA, SVP, Investment Strategy and Research THE VIEWS EXPRESSED IN THIS PRESENTATION ARE THOSE OF THE PRESENTER AS OF THE DATE OF THE PRESENTATION

More information

Econ 202 Final Exam. Douglas, Spring 2010 May 6, 2010 PLEDGE: I have neither given nor received unauthorized help on this exam.

Econ 202 Final Exam. Douglas, Spring 2010 May 6, 2010 PLEDGE: I have neither given nor received unauthorized help on this exam. , Spring 2010 May 6, 2010 PLEDGE: I have neither given nor received unauthorized help on this exam. SIGNED: PRINT NAME: Econ 202 Final Exam Multiple Choice. 2 points each. 1. According to the long-run

More information

State College, Pennsylvania

State College, Pennsylvania C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S State College, Pennsylvania U.S. Department of Housing and Urban Development Office of Policy Development and Research As of June 1,

More information

London Market Snapshot October 2015 10/15

London Market Snapshot October 2015 10/15 London Market Snapshot October 2015 10/15 Global Macro Overview Global equities experienced their sharpest falls since 2011, with most major markets moving into correction territory (a fall of more than

More information

Multifamily Market Strengthens as Employers Add Workers

Multifamily Market Strengthens as Employers Add Workers Research & Forecast Report TUCSON METRO AREA MULTIFAMILY 2 Multifamily Market Strengthens as Employers Add Workers Key Takeaways > > Employment growth in Tucson closed 2 on an upswing. Approximately 5,6

More information

} The state s strength

} The state s strength Housing Recovery Gains Momentum By D Ann Petersen and Christina Daly } The state s strength made it a magnet for those looking for work and contributed to No. ranking for domestic inmigration for a seventh

More information

Public Disclosure. Community Reinvestment Act Performance Evaluation

Public Disclosure. Community Reinvestment Act Performance Evaluation Comptroller of the Currency Administrator of National Banks SMALL BANK Public Disclosure January 4, 1999 Community Reinvestment Act Performance Evaluation FIRST INTERSTATE BANK OF ALASKA, N.A. Charter

More information

Housing Price Forecasts, 2015. Illinois and Chicago MSA

Housing Price Forecasts, 2015. Illinois and Chicago MSA Housing Price Forecasts, 2015 Illinois and Chicago MSA Presented To Illinois Association of Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs

More information

Multifamily Market Commentary July 2014 The Nation s Aging Multifamily Housing Stock

Multifamily Market Commentary July 2014 The Nation s Aging Multifamily Housing Stock Multifamily Market Commentary July 2014 The Nation s Aging Multifamily Housing Stock Although America s population is rising at its slowest pace in more than 70 years, and it has taken 76 months for employment

More information

Multifamily Outlook Second Half 2015 Executive Summary

Multifamily Outlook Second Half 2015 Executive Summary September 2015 Steve Guggenmos 571-382-3520 Harut Hovsepyan 571-382-3143 Sara Hoffmann 571-382-5916 Jun Li 571-382-5047 Tom Shaffner 571-382-4156 Zhou Zhou 571-382-3114 John Kang 571-382-4180 Multifamily

More information

The Aftermath of the Housing Bubble

The Aftermath of the Housing Bubble The Aftermath of the Housing Bubble James Bullard President and CEO, FRB-St. Louis Housing in America: Innovative Solutions to Address the Needs of Tomorrow 5 June 2012 The Bipartisan Policy Center St.

More information

The President s Report to the Board of Directors

The President s Report to the Board of Directors The President s Report to the Board of Directors May 5, 2015 CURRENT ECONOMIC DEVELOPMENTS - May 5, 2015 Data released since your last Directors' meeting show that economic growth continued to slow in

More information

CREDIT UNION TRENDS REPORT

CREDIT UNION TRENDS REPORT CREDIT UNION TRENDS REPORT CUNA Mutual Group Economics May 216 (March 216 Data) Highlights During March, credit unions picked-up 577, in new memberships, loan and savings balances grew at a % and 7.6%

More information

Weekly Economic Commentary

Weekly Economic Commentary LPL FINANCIAL RESEARCH Weekly Economic Commentary October 20, 2014 Beige Book: Window on Main Street John Canally, CFA Chief Economic Strategist LPL Financial Highlights The latest Beige Book reflects

More information

Houston Executive Market Briefing

Houston Executive Market Briefing Houston Executive Market Briefing June 2014 David Jarvis Executive Vice President 2211 Norfolk St., Suite 803 Houston, TX 77098 (713) 535-2250 www.mcalisterinv.com I am extremely excited about joining

More information

C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S. Dallas, Texas. Summary. Economy. Sales Market

C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S. Dallas, Texas. Summary. Economy. Sales Market C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S Dallas, Texas U.S. Department of Housing and Urban Development Office of Policy Development and Research As of April 1, 26 Summary Housing

More information

Multifamily Construction Has Fallen Well Below Historical Peaks

Multifamily Construction Has Fallen Well Below Historical Peaks Rental Production and Supply Despite a sharp uptick in the number of renter households, construction of multifamily units for rent declined in 27 for the fifth straight year. Even so, growth in the rental

More information

Economic Development Planning, Summary 7

Economic Development Planning, Summary 7 Economic Development Planning, Summary 7 Unless otherwise noted, summaries represent findings and analyses by the listed source, not by Morrison Institute for Public Policy or Arizona State University.

More information

Housing Price Forecasts. Illinois and Chicago PMSA, April 2014

Housing Price Forecasts. Illinois and Chicago PMSA, April 2014 Housing Price Forecasts Illinois and Chicago PMSA, April 2014 Presented To Illinois Association of Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs

More information

Improve customer experience and increase conversions while maintaining a competitive edge.

Improve customer experience and increase conversions while maintaining a competitive edge. CUSTOMER PROFILE Headquarters: Seattle, WA Founded: 2005 Industry: Technology URL: zillow.com THE GOAL THE RESULT Improve customer experience and increase conversions while maintaining a competitive edge.

More information

South African Reserve Bank. Statement of the Monetary Policy Committee. Issued by Lesetja Kganyago, Governor of the South African Reserve Bank

South African Reserve Bank. Statement of the Monetary Policy Committee. Issued by Lesetja Kganyago, Governor of the South African Reserve Bank South African Reserve Bank Press Statement Embargo Delivery 21 July 2016 Statement of the Monetary Policy Committee Issued by Lesetja Kganyago, Governor of the South African Reserve Bank The UK vote to

More information

Meeting with Analysts

Meeting with Analysts CNB s New Forecast (Inflation Report II/2015) Meeting with Analysts Petr Král Prague, 11 May, 2015 1 Outline Assumptions of the forecast The new macroeconomic forecast Comparison with the previous forecast

More information

Overview. Growing a Real Estate Portfolio. Risks of Real Estate Investing

Overview. Growing a Real Estate Portfolio. Risks of Real Estate Investing Overview Over the past decade, Strongbrook has established a reputation as an industry leader in assisting clients with placing and managing real estate within their investment and retirement portfolios.

More information

Phoenix-Mesa-Scottsdale, Arizona

Phoenix-Mesa-Scottsdale, Arizona COMPREHENSIVE HOUSING MARKET ANALYSIS Phoenix-Mesa-Scottsdale, Arizona U.S. Department of Housing and Urban Development Office of Policy Development and Research As of May 1, 2014 Summary Housing Market

More information

2012 A Year in Review. United States, Texas & Austin. Austin Economic Drivers Forecast: 2013-2014 Austin MSA Closing Remarks

2012 A Year in Review. United States, Texas & Austin. Austin Economic Drivers Forecast: 2013-2014 Austin MSA Closing Remarks 2012 A Year in Review United States, Texas & Austin Austin Economic Drivers Forecast: 2013-2014 Austin MSA Closing Remarks YEAR IN REVIEW United States (through Sept.) YTD New Population YTD Retail Sales

More information

Pace of Improvement Accelerates to Start 2016

Pace of Improvement Accelerates to Start 2016 Research & Forecast Report TUCSON METRO AREA MULTIFAMILY 2 Pace of Improvement Accelerates to Start 2 Key Takeaways > > A strengthening labor market is supporting multifamily conditions in Tucson. Employers

More information

Agents summary of business conditions

Agents summary of business conditions Agents summary of business conditions 6 Q The annual rate of activity growth had remained moderate. Turnover growth had eased further in the business services sector, partly reflecting some delays in clients

More information