It never ceases to amaze me how reporters writing on a specific industry, cannot see the whole picture because they are focused on that one Industry! Take the article below, the writer doesn't understand why with housing demand so high, prices rising and interest rates still at historic low, why more people are not selling their homes.
Then you read this
That's when you step back look at the economy at a whole, and then remember back to your freshman year in college and your Economics professor rambling on about “Economic Uncertainty and its effect on the business cycle” the light bulb will come on…..Our economy is awash in uncertainty. From Obama Care and the push back of the employer mandate that will hit sometime in 2016, to hundreds of thousands of new regulations from the EPA, IRS, Office of Consumer Credit Protection…which is about to rewrite the how HUD-1 and closing procedures and all you have is uncertainty…businesses and people will act accordingly. They will hold their money, not buy that new car or house and will wait it out. I predict in 3 years we will see this economy explode with activity and we will see GDP number in the +6-7% per quarter!
All this being said, locally we are doing great! Our economy is the best in the nation, un-employment is the lowest in the country….except for North Dakota. We have low taxes, a business friendly state government, great transportation and a hot but great climate! That's why the latest statistic is over 1000 people a day are moving to Texas…..Jobs….Jobs….Jobs….. Y'all Come!