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.

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