Northern Arizona University’s 36th Annual Economic Conference

Flagstaff’s economy is on the upswing — slowly but surely

I had the privilege to attend the annual half-day Northern Arizona University Economic Conference yesterday. For the several years that I’ve attended (8-10, I haven’t kept track), all but one of the same speakers appear each year. The keynote speaker rotates and sometimes offers something useful and sometimes not. But the main speakers are economists from NAU and the Phoenix area and are always interesting.

Housing is a key to both the Arizona and the Flagstaff economy. My collection of statistics is used to present the status and outlook for the Flagstaff region. You can follow those numbers in my Monthly Flagstaff Home Sales Report published in this blog.

Here is the short version of what was said yesterday:  Now that the election is over, politicians need to learn math and accept that tax revenues have to come in to balance the budget. It can’t all be cuts. The length of time it takes to learn elementary math with be the length of time of volatility in the markets in response to the uncertainty about the deficit resolution. This has to be resolved because the government makes up over 20% of GDP and that’s not changing. If you’re unhappy about Obamacare, buy hospital stocks and be happy.

2013 will be a better year economically than 2012 has been (or will end up). 2014 will be better. 2015 will be a good year. Don’t look for a boom.  This is a generalization about housing and the overall economy.

I find attending this event entertaining (wish my professors had been this much fun when I was in school) and affirming (my thinking about the direction of the country has not left the tracks.) Thanks, NAU, for holding this important event in Flagstaff every year.

To buy or sell any Flagstaff home, please contact me: Ann Heitland at RE/MAX Peak Properties.

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