Guess who’s back...back again? Danny Brown and Garret Cerkvenik (AKA the dream team) are back for a new market update podcast! Plus, they cover their bold predictions for the new year and recap their predictions from 2019.
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Real Estate & Economic Recap –
– Lack of supply is super low! The lowest since 2005
– Active listings are down 30% from this time last year
– Our population is up 20%
– Phoenix is the strongest real estate market in the country right now
– Phase 1 deal with China is expected to reduce tariffs and boost Chinese purchases of American goods
– US Manufacturing fell into the deepest slump in more than a decade in December
– Minimum wage is going up around the country
– Iran situation isn’t over
2020 Bold Predictions –
Real Estate/Economy:
– Double digit appreciation
– Encountering more multiple offer situations
– Total number of sales down, but prices up
– Stock market up, but by less than 10%
– Economy will grow by less than 2%, no recession
– Gen Y is the largest buyer segment and are buying in the suburbs
– Maricopa county continues to be #1 with a massive growth in the West Valley
– Wages grow and outpace inflation
– The Fed lowers rates twice
Pop Culture:
– Phoenix Suns make the play-offs this year
– Cardinals finish with winning record
– Trump will get re-elected due to the positive economic growth
– Streaming wars will heat up
– SeaHawks vs Ravens in the SuperBowl – with the Ravens winning
– Danny wants to see people be nicer to each other this year
– 2020 will be better than 2019 for Myriad and JFQ
Thank YOU for listening to Danny Brown Talks Phoenix!
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