Mark Sprague, Director of Business Development for Mission Mortgage, provided a Mid-Year Forecast for 2011 on Thursday to a packed room of realtors, business leaders, and others interested in the local housing market. His presentation was covered by the Austin American-Statesman, who wrote a feature piece about his talk and published it in their August 5, 2011 edition.
Mark is quoted frequently by the local media, in print, TV and radio. Generally, he is asked his opinion of a current event or hot topic and his comments are added to a piece as supporting material. This time, however, Mark’s presentation became the focus of the piece and he was covered and quoted quite heavily by reporter Shonda Novak.
AUSTIN STANDS OUT
From foreclosures to employment, housing demand and population growth, Sprague identifies this time for Austin as a special moment where we are a shining example to the nation of how to recover from recession. He predicts growth will continue, more jobs will arrive from out of state or be created locally, and that the supply and demand of housing in our area will lead to more sales and higher prices in the near future. With mortgage rates near record lows, the time for buyers to exercise their power is now, according to Sprague.
Sprague’s presentation was almost entirely opposite of Dr. Mark Dotzour’s presentation in Austin on Wednesday (Aug. 3). Dotzour was direct and harsh when discussing the national economy, going as far as to say that he has opened a bank account in Canada, just in case. In response, Sprague says he’s “still keeping his money in the states.” The national picture is glum and dark for many, but Austin and Texas continue to shine and Sprague made sure those in attendence had concrete evidence to his claims.
To read the complete article in the Austin American-Statesman, please click here.
If you are interested in hearing more from Mark Sprague, we invite you to subscribe to his weekly online newsletter, The Mission Statement. Here, Mark provides an in-depth look at the issues and trends impacting our economy on a national, statewide, and local level. To learn more about Mark Sprague’s newsletter, please click here.