March 25 State of the Industry Summit Outlines Challenges Ahead for Housing
By Phil Crone, Executive Officer, Dallas Builders Association
Hopes are rising that the worst phase of the pandemic is behind us, but building costs and lot supply constraints are becoming significant headwinds. The market appears to be at a crucial transition point, which is why the State of the Industry Summit presented by Hotchkiss Insurance is a can’t miss event for Dallas BA members.
The Summit, which begins virtually at 9 a.m. on Thursday, March 25, will feature leading Chief Economists Dr. Rob Dietz and Dr. Jim Gaines, as well as lumber industry expert David Yessian.
Dr. Dietz is the Chief Economist and Senior Vice President for Economics and Housing Policy for the National Association of Home Builders (NAHB). His opening keynote at the Summit will focus on the national housing picture and, in particular, the impact of skyrocketing lumber prices. The data he will share helped fuel this week’s effort, led by NAHB, urging Commerce Secretary Gina Raimondo to take action on the price of lumber. More than 35 other organizations joined NAHB’s letter.
The next part of the Summit will examine the state and local housing economy. Dr. Jim Gaines, Chief Economist at the Real Estate Center at Texas A&M, is a leading expert on housing and land development issues. He will compare and contrast our region with the state’s other leading markets and identify factors that will significantly impact our industry throughout the rest of the year. Dr. Gaines has an innate ability to connect information about the housing economy to the opportunity of homeownership. His assessment of how every $1,000 price increase new home prices more than 20,000 Texas families out of the market is commonly cited by housing advocates.
David Yessian, Vice President of Purchasing with Foxworth Galbraith Lumber Company, will offer his insights as the final segment of the Summit. He will take a deeper look at the supply and demand factors contributing to the record lumber prices we are currently experiencing. As a professional who purchases lumber for a leading building supply store, he is closely monitoring the supply side challenges that I wrote about last week and will have some great feedback for us.
To register for the State of the Industry Summit, please click HERE. Access instructions for the Zoom meeting will be provided once you complete the form.