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Showing posts with label CCIM Housing luncheon with Mike Inselmann. Jim Carney REDNews. Show all posts
Showing posts with label CCIM Housing luncheon with Mike Inselmann. Jim Carney REDNews. Show all posts

Friday, August 13, 2010

HRBC Commissioner Jerry Eversole

Commissioner Jerry Eversole was feature speaker at Thursdays HRBC breakfast and had a follow-up to comments made at the Tuesdays Harris County Commissioners Court. In response to a Houston Chronicle article titled "Verbal fireworks in Commissioners Court". Commissioner Eversole made it quite clear that he hopes County Judge Ed Emmett continues in his position forever.

In more pertinent information to commercial real estate interests the Commissioner announced that sections F1 and F2 of the grand Parkway are commencing September 10. This portion of the Grand Parkway will be crucial to the new Exxon Mobil facility which will house 12,000 employees. Also starting up will be Coventry Homes on their 1,600 acre tract.

Laurence Bernell with Bernell Realty Group, Dick Klein with The Richard Klein Company, Ed Taravella with Taracorp and Bud Friedman with Fort Bend Real Estate Corp.

Thursday, June 17, 2010

Ned Holmes Speaks on TXDOT at ACRP June 17, 2010

Ned Holmes with TXDOT and Jim Suttles with First American Title

Ned Holmes spoke to TXDOT future funding needs today at the monthly ACRP breakfast. Right now funding from gas tax is based on a $ amount per gallon of gas. In the case of Texas that amount is $.20 per gallon. There are no built in increases and this tax has been at the $.20 rate since the early 90's. No one in the legislature is about to approve any increases for TXDOT for fear of losing votes. Until recently the population growth has added enough to the tax base to offset fuel efficiency but that has now reversed and with mandated fuel efficiency going to 34 MPG in 2030 there will be a deficit.
One remedy is VMT which is a Vehicle Miles Travelled Fee. How this one is calculated is a big question.

Dick Klein with The Richard Klein Company and Bill McDade with McDade Smith Gould Johnston Mason + Co.

Thursday, June 10, 2010

CCIM June 10th Luncheon Speaker Mike Inselmann with MetroStudy


 


Kristen Wiehe CCIM Scholarship Recipient, Mike Inselmann with MetroStudy and Suzanne Page-Pryde with Page-Pryde Properties
According to Mike Inselmann Texas is the best place to be when looking for recovery from the last two years.  Population growth in the top 20 US cities shows Texas with 4 spots including the top two. Population grows with jobs.

A recession is two back to back quarters of negative GNP growth. We are now running three consecutive quarters with positive GNP growth. What's wrong? Well there is no job growth. Job growth is the most important factors in new housing starts. We are up to 2 million jobs lost from 6 million jobs lost. It takes on an average 1 1/2 to 2 jobs for each housing start. At least the trend is not negative.

Foreclosures still loom out there. There is a new stage in the foreclosure arena. Started when values suddenly declined forcing a foreclosure. Then Adjustable rate mortgages kicked in forcing more. The the third wave comes because of job loss. Now a fourth has come into play and that's the Give Back. Homeowner can afford to pay the mortgage but decides that it will be more beneficial to him to walk. It's voluntary and could cause havoc.

Lastly there are no indicators that this process won't repeat itself again in the next 5 to 10 years.



Jim Cockrill with Coldwell Banker United and Beth Young with Grubb& Ellis