“LIVE” from the REALTORS(R) Land Institute National Land Conference!
We’re here in Denver at the 2012 National Land Conference of the REALTORS(R) Land Institute, with approximately 200 land real estate professionals and a beautiful backdrop of the Colorado mountains.
This morning things are kicking off shortly, with our REALTORS(R) Signature Series Speaker Andre van Rensburg serving as the emcee for the event – up shortly we’ll here from Dr. Mark Dotzour, Chief Economist & Director of Research at Texas A & M University.
Stay tuned as we live blog!
9:22 am: Dotzour on stage now.
9:23 am: Dotzour “The Good – claims for unemployment dropping, unemployment benefits dropping, consumer spending is increasing, consumer debt is increasing, car sales are strong, car lending is getting agressive, manufacturing is rebounding, corporate profits at record levels, farm land prices rocketing, apartment prices rocketing”
9:39 am: Dotzour “US Economy is a Massive Botox Operation”
9:44 am: Dotzour “we are exactly on the same road as Greece”
9:48 am: Dotzour “what happens if long rates increase? Fed Reserve takes huge loss on trillion dollar portfolio of mortgages and treasuries”
9:53 am: Dotzour “reason America, our farm land and our stock market looks good is because Europe is on life support”
9:55am: Dotzour “2012 will be a year of slow growth, but we need to watch out for 2013”
9:56am: Dotzour “Outlook for 2012: businesses continue to postpone decisions, job growth slow but positive, interest rates stay low, high gas prices punish retailers, threats of budget crisis will scare the public, uncertainty of 2013 will stifle growth, Europe and China will continue to lose steam”
Up Next: “Where’s the Money?” with KC Conway, CRE,MAI, Executive Managing Director of Real Estate Analytics – Colliers International
10:02 am Conway “Start of 2012 is eerily similar to the start of 2011”
10:04 am Conway “modest or no growth (<1.5% GDP) while government can’t act”
10:14 am Conway “look at GDP outside the US for key indicators, as bell-weathers for the US”
10:22 am Conway “2012 and 2013 are peak years with more than $350 billion each year in CRE debt maturities. Banks have 45% of outstanding $3.0 trillion in CRE debt”
10:31 am Conway “it’s time to re-examine our market perceptions”