A near record crowd attended the B/CS Chamber of Commerce 17th Economic Outlook Conference.
The day began with a national review from Texas A&M economics associate professor Dr. Jonathan Meer, who is also the department’s Director of Undergraduate Programs. Dr. Meer addressed the negative impact of regulations on the economy, including an increase in the minimum wage, Obamacare, the federal stimulus bill, and what he calls a patchwork of income assistance programs that destroys work incentives that keeps low income people in poverty.
Another A&M economist, Dr. Jim Gaines of the Real Estate Center, says the legislature’s funding of the university will have more impact on the local economy than the fluctuation in oil prices.
Dr. Gaines shared statistics about the latest housing boom in Bryan/College Station that includes the problem of the working class finding affordable homes.
Construction of new homes now takes nine months instead of five months due to demand from buyers combined with a shortage of laborers.
Dr. Gaines says local homebuilders are producing as much as they can with the available workforce, and the average price of a new home has risen to more than $206,000 dollars.
And existing homes are selling nearly as fast as they’re listed.
