Dr. Mark Dotzour On the Real Estate Market: Really, This Guy Ought to be the Next President of the U.S.
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Forget Donald Trump. You know the kind of guy or gal we need to run for president? Someone who can tell us, in the way Ronald Reagan could, how to swallow the super duper bitter pills we need to take to mend our country financially. You know who I think that person is? Dr. Mark Dotzour at Texas A&M University’s Real Estate Center. Over the years I’ve studied him, he REALLY tells it like it is: “Let’s live within our means and tell the public the truth!” What’s the truth? That government spending is killing us financially, that government policies (like Dodd-Frank and Obamacare) are creating uncertainty in the marketplace, killing the recovery and regulators are putting the kibosh on real estate loans. He says it all and a whole lot more here: this is not a double dip, we have not even hit bottom. Yesteryear’s government’s home buyer’s credit was a fake recovery. A LOT of the recovery depends on what kind of information gets floated during the next presidential election from the candidates. As long as there is uncertainty, which is all Washington feeds us these days, the markets will be stalled. What about inflation? He doesn’t see it on the horizon — unless Washington starts forcing up minimum wage. Interest rates are at zero, yet there’s no movement. Our economy, he says, has been weakened by government regulation and foreign competition. Yet, Dr. Dotzour says he’s more optimistic than he has been since about 2007 and thinks we are seeing job growth on the upswing. When will home prices stabilize (and maybe even go up)? When we flush out the distressed inventory. All of it, gone. Consumers are paying down their debt, household net worth is inching upwards, and folks are going to be ready to start buying real estate without the lure of government incentives in about a year. Now, if we could just get the government to live within its means… Long, but worth listening to —
5 Comments
Candy, it sounds like Dr. Dotzour gets his talking points from Darth Vader, er, Dick Cheney, hizzelf. Regulation=Bad , Living Wages= Bad , Attempts to fix healthcare and give all Americans access to decent healthcare AKA Obamacare= Bad…uuummm, whatever he's selling, I'm not buying.
I do agree that the tax credit last year gave false rise to the market, BUT compared to everything else, that's chicken feed. How about all of the big, bad "regulation" that was rolled back, allowing the banking industry to become Vegas-style gamblers with credit default swaps, etc, etc. And I believe it was Dallas-own Mr. Bush that decreed "everyone should own a home" and lead policy down a disastrous path. I recommend reading or watching "Too Big to Fail" to see how the titans of industry(which is Republican manna) behaved during that period.
I'm trying to think of an Aggie joke to finish this off, but perhaps it's Dr. D's right-wing delusions that are most amusing-and scary.
Candy, it sounds like Dr. Dotzour gets his talking points from Darth Vader, er, Dick Cheney, hizzelf. Regulation=Bad , Living Wages= Bad , Attempts to fix healthcare and give all Americans access to decent healthcare AKA Obamacare= Bad…uuummm, whatever he's selling, I'm not buying.
I do agree that the tax credit last year gave false rise to the market, BUT compared to everything else, that's chicken feed. How about all of the big, bad "regulation" that was rolled back, allowing the banking industry to become Vegas-style gamblers with credit default swaps, etc, etc. And I believe it was Dallas-own Mr. Bush that decreed "everyone should own a home" and lead policy down a disastrous path. I recommend reading or watching "Too Big to Fail" to see how the titans of industry(which is Republican manna) behaved during that period.
I'm trying to think of an Aggie joke to finish this off, but perhaps it's Dr. D's right-wing delusions that are most amusing-and scary.
Candy, it sounds like Dr. Dotzour gets his talking points from Darth Vader, er, Dick Cheney, hizzelf. Regulation=Bad , Living Wages= Bad , Attempts to fix healthcare and give all Americans access to decent healthcare AKA Obamacare= Bad…uuummm, whatever he's selling, I'm not buying.
I do agree that the tax credit last year gave false rise to the market, BUT compared to everything else, that's chicken feed. How about all of the big, bad "regulation" that was rolled back, allowing the banking industry to become Vegas-style gamblers with credit default swaps, etc, etc. And I believe it was Dallas-own Mr. Bush that decreed "everyone should own a home" and lead policy down a disastrous path. I recommend reading or watching "Too Big to Fail" to see how the titans of industry(which is Republican manna) behaved during that period.
I'm trying to think of an Aggie joke to finish this off, but perhaps it's Dr. D's right-wing delusions that are most amusing-and scary.
Well, yes. I thought of that. But from reading Michael Lewis' The Big Short, it wasn't really illegal what the banks were doing, they just found a loophole. Dotzour thinks the same loophole may be coming down the pike with gold — gold, he said, is like the real estate market is in a big bubble right now. And then the government had loosened up to try and get everyone into a home. But if you are talking about Glass-Steagall (sp?) you are correct.
Anyhow, I want to know what this means for us. What I am afraid it means is that our market nightmare won't improve until the banks get healthy, even here in Texas where things are not so bad! Thanks Brian!
Well, yes. I thought of that. But from reading Michael Lewis' The Big Short, it wasn't really illegal what the banks were doing, they just found a loophole. Dotzour thinks the same loophole may be coming down the pike with gold — gold, he said, is like the real estate market is in a big bubble right now. And then the government had loosened up to try and get everyone into a home. But if you are talking about Glass-Steagall (sp?) you are correct.
Anyhow, I want to know what this means for us. What I am afraid it means is that our market nightmare won't improve until the banks get healthy, even here in Texas where things are not so bad! Thanks Brian!