Dr. Dotzour, model economist
For years, we’ve been alluding to Dr. Mark Dotzour, Chief Economist of the Texas Real Estate Center as the “model economist” and called for his being Yun’s successor because of his honest and sometimes controversial economic outlooks.
We are not exaggerating when we say that most very high ranking executives in Texas commercial real estate firms and residential development groups will not make a move without hearing Dr. Dotzour’s outlook.
Because of that, we pay very close attention to his thoughts on national issues as well.
No double dip
In Dr. Dotzour’s most recent speech at the SIOR Conference, he said there was no double dip, that we haven’t even hit the bottom yet.
This conflicts with what many other economists are saying and honestly, it conflicts with what we have been saying. We’ve even shown you via chart where the double dip exists. But when Dr. Dotzour says these up and downs don’t account for the bottom yet, we are a bit afraid of what the bottom looks like.
Economy looks better, why the sour outlook?
Unemployment is bouncing up and down but is overall improved, corporate profits are way up, layoffs are way down, new home construction is more realistic and improving, existing home sales are improving, yet Dr. Dotzour’s outlook isn’t exactly sunny.
Dr. Dotzour said, “The government sector has postponed right-sizing at enormous expense to the American taxpayers” and alludes to “Unfathomable budget deficits” holding the economy back.
We highly encourage you taking time today to listen to Dr. Dotzour’s audio speech or at least thumbing through his slides. It may change your mind on some widely held beliefs about the national real estate economy.
Click here to hear Dr. Dotzour’s speech and
click here for his corresponding slides.
