1st up is Elliott Pollack.
Housing recovery but painfully slow.
Consumers have paid down a lot a debt.
Consumer confidence still way low although up from earlier.
Deleveraging. Banks scared to lend. Consumers not qualified to borrow.
Deleveraging stops when asset prices increase.
Average home price up 50-60 percent by 2015. (That a new element to Elliott’s presentation I think.)
Elliott is as positive as I’ve seen him in years. I saw him in the fall and he was down right pessimistic.
Affordability has never been better in Greater Phoenix. 86% can afford median priced homes.
(This WordPress app for Android is a lot better than it used to be but it still isn’t great. The keyboard takes up about 75% of screen so its like looking at the app through a straw!) [ADDED: I was using a two-thumbs keyboard app that I had downloaded but when I switched to using the native keyboard, the WordPress App worked better – the keyboard was smaller and selecting text worked better.]
Conclusion: Elliott has a rosy outlook for metro Phoenix.