January 30th the Anchorage Economic Development Corporation (AEDC) hosted their annual luncheon to go over economic data from 2018 – and to forecast numbers for 2019. I studied Business & Economics on my way to a Bachelor of Science as an undergrad in Chicago – what I am trying to say is, I loved the event.
There is good news ahead: They see a return to growth to the Anchorage and Alaska economy in 2019, after a few years of decline. Through the downturn – a loss in jobs around oil and gas were the primary drivers. Jobs are one of most important, if not most important, factors to a growing economy.
January 31st I attended a second presentation – this time from Ph.D. Ted C Jones – Chief Economist of Stewart Title based in Houston, Texas. You can see his blog here: https://blog.stewart.com/stewart/author/tjones/
Being from Texas he understands Alaska’s energy economy better than many. One highlight in particular, he said that in the past twelve months Alaska has doubled the number of drilling rigs here. This bodes well for job growth, which he said to expect for the first time in four years.
Dr. Jones also predicts rents to be higher twelve months from now. As a rental property investor and real estate agent – this is good news. Even if I don’t want to raise my rents – I will have more applicants with better jobs applying for open apartments. A rising tide raises all boats. That’s what a growing economy does too.
Interested in owning rental property? Contact me to learn more.
— Jamie Rose
You can watch the 2019 AEDC presentation here: https://chariotdemo.mediasite.com/Mediasite/Channel/aedc2019/watch/43a3c6ed945f415f8e7c731b6d5f589f1d
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