Dr. Dotzour spoke to the Houston Builder’s Association and gave some great updates I want to share with you. The experts are predicting that the area home market may cool off a bit, but it’s not going to collapse!
Over 840 guests heard from Dr. Mark Dotzour at the 2015 Economic Forecast Luncheon, January 7 at the Royal Sonesta Hotel Houston. Dotzour is the chief economist for the Texas A&M Real Estate Center, and a foremost expert on the housing industry.
Dr. Dotzour was in rare form for the keynote speech, “Thriving in Wartime Conditions,” and confessed that this was the most difficult preparation he had ever made. Some lay offs will happen in oil and gas, Dotzour says, but the building industry is in great shape, with plenty of starts. The housing industry may even see a boost in labor as those being laid off from oil and gas come back to housing, he predicts.
Dotzour reminded us that the price of oil goes up and it goes down…no big deal! Last time oil went down to $32 was because China was hoarding it before the 2008 Olympics. It went up to $138 a barrel, then down to $32 in mid 2009.