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Real Estate Center NewsmakersReal Estate Center Newsmakers2017-09-01T05:00:00Zin-the-news
RE Center

“Harvey creates an economic mess as Texas toll still being tallied" 8-28-17. San Antonio Express-News. At Texas A&M University's Real Estate Center, economist Jim Gaines is already getting calls and emails from people who want to know how the flooding affects their home's value. “I don't know what to tell them," Gaines said. Neither does he know yet how to estimate the overall damage to property or the effects on the state's $1.6 trillion economy — the second-largest in the U.S. after California. Gaines said, “It's going to be significant in terms of dollars and in terms of the impact on people. It's in the billions. The question is, is it hundreds of billions?"

“Ask the experts: James P. Gaines" 8-28-17. WalletHub. Yes, now is a relatively good time to buy, given low interest rates (with expectations of rates rising in near term), some easing on credit terms and mortgage loan underwriting, and the fact that home prices are increasing fairly rapidly in most areas.

“Subdivision with 260 luxury homes planned for Lorena” 8-24-17. Waco Tribune-Herald. The Texas A&M Real Estate Center reported in July that Greater Waco had only a 2.8-month inventory of homes for sale, which means sellers hold the advantage at the bargaining table.

​​“July 2017 Lubbock area housing report" 8-23-17. Lubbock Avalanche-Journal. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

“Amid Austin's housing affordability crisis, home prices keep rising" 8-21-17. Culture Map Austin. The Real Estate Center at Texas A&M University cites a six- to 6.5-month supply as signaling a balanced housing market.

“Texas high on the shopping list for foreign homebuyers" 8-18-17. Dallas Morning News. "From talking to Realtors, we know they are doing a lot of business with foreign buyers," said Dr. James Gaines with the Real Estate Center at Texas A&M University. "Texas represents a very nice opportunity for them - we've been the fastest growing state in the country for years."

“Steady gains in July for Central Texas home sales, inventory at highest point since 2012" 8- 18-17. San Marcos Corridor News. Despite strong gains in housing inventory last month, Central Texas housing inventory levels remain well under the 6 to 6.5 months of inventory the Real Estate Center at Texas A&M University cites as a balanced housing market.

“The evolution of the Texas housing market" 8-17-17. Builder Magazine. Dr. Jim Gaines, chief economist at the Real Estate Center at Texas A&M, explains that the state of Texas is going through a fundamental shift similar to what has been seen in the past in places like Florida, New York, and California.

"U.S. bank targets robust Dallas business climate with commercial banking expansion" ​8-17-17. ABL Advisor. “Dallas-Fort Worth has never really stopped growing since the recession," Jim Gaines, chief economist at Texas A&M University's Real Estate Center, told the Dallas Morning News earlier this year. “It's still going and blowing."

“Waco: Home sales are brisk" 8-16-17. KWTX Channel 10. According to a researcher at the Real Estate Center at Texas A&M University, Texas issued the most building permits in the country.

“Will hot housing markets in Texas ever cool down?" 8-15-17. Curbed. According to Dr. Jim Gaines, chief economist at the Real Estate Center at Texas A&M, the state is experiencing a fundamental shift. Based on data from the center's most recent Texas Housing Insight report, released earlier this month, he sees the state in the midst of a long expansion, as it becomes not just a leading state but perhaps a center for growth for the U.S. for years to come.

“Ebby Halliday helps buyers navigate the luxury home market in DFW" 8-11-17. CandysDirt.com. Sales of million-dollar homes in North Texas grew 37 percent in the first half of this year, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

“CoreLogic: Houston's housing market is on an 'unsustainable path'" 8-9-17. Builder Online. According to Jim Gaines, chief economist for Texas A&M University's Real Estate Center, the major downward correction expected by CoreLogic is not guaranteed to occur just because prices are high. He attributes this price growth to high home demand for low home supply and believes that an increase in new home construction could stabilize the market.

WOTUS rescinded; property rights saved" ​8-9-17. Ag Web. That rule, if allowed to exist, would have essentially frozen nearly all land in current use in place at the time of implementation, says ag land attorney Judon Fambrough, now retired from the Real Estate Center at Texas A&M University.

“After 11 percent jump in July, North Texas on pace to sell over 100,000 homes in 2017" ​8-8-17. Dallas Morning News. July had the second highest home sales total ever in North Texas following the record 10,962 housed that traded in June, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

“Real estate market influenced by rapid growth" 8-8-17. Austin American-Statesman. James Gaines of the Texas A&M Real Estate Center called 2016 a transitional year following the end of a five-year boom. Both jobs and population grew that year, which is still occurring in 2017. Annual jobs in the Austin-Round Rock Area presented slower job growth at 2.8 percent in May, and between 2015 and 2016, the Austin-Round Rock area added an average of 160 residents per day.

“Houston housing market overvalued, report says" 8-7-17. KUHT TV 8. Jim Gaines, chief economist for Texas A&M University's Real Estate Center, is not entirely sure. “It implies that the values are so high, they've gone up so high, that there's going to be a major downward correction or something in the future," he said, “which may or may not happen."

“College debt is keeping younger generation from buying homes" 8-1-17. Beaumont Enterprise. James Gaines, chief economist for Texas A&M University's Real Estate Center, said in addition to having more financial debt than their parents did when they were their age, many millennials were denied home loans because of the financial crisis of 2008.

Digital Onlyhttps://www.recenter.tamu.edu/articles/in-the-news/Real-Estate-Center-Newsmakers https://assets.recenter.tamu.edu/Documents/Articles/Headlines-201707.pdf

 

 

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Monthly Review of the Texas EconomyMonthly Review of the Texas Economyhttps://www.recenter.tamu.edu/articles/technical-report/monthly-review-of-the-texas-economyAli Anari
Still AffordableStill Affordablehttps://www.recenter.tamu.edu/articles/tierra-grande/Still-AffordableJames P. Gaines and Clare Losey
New Insurance Law Takes Effect September 1, Just in Time for Harvey AftermathNew Insurance Law Takes Effect September 1, Just in Time for Harvey Aftermathhttps://www.recenter.tamu.edu/articles/research-article/New-Insurance-Law-Takes-EffectRusty Adams
Texas Border EconomyTexas Border Economyhttps://www.recenter.tamu.edu/articles/research-article/Texas-Border-EconomyJames P. Gaines, Luis Torres, Wesley Miller, and Bailey Cuadra
Hurricane Harvey Disaster Resources GuideHurricane Harvey Disaster Resources Guidehttps://www.recenter.tamu.edu/articles/research-article/Hurricane-Harvey-Disaster-Resources-GuideRusty Adams
Outlook for the Texas EconomyOutlook for the Texas Economyhttps://www.recenter.tamu.edu/articles/technical-report/outlook-for-the-texas-economyLuis Torres, Wesley Miller, and Bailey Cuadra