Presentation on theme: "Your Tax Assessor. THE MARRIAGE GAP REASONS FOR THIS STATISTIC:REASONS FOR THIS STATISTIC: YOUNGER PEOPLE ARE PUTTING OFF MARRIAGE;YOUNGER PEOPLE ARE."— Presentation transcript:
THE MARRIAGE GAP REASONS FOR THIS STATISTIC:REASONS FOR THIS STATISTIC: YOUNGER PEOPLE ARE PUTTING OFF MARRIAGE;YOUNGER PEOPLE ARE PUTTING OFF MARRIAGE; THOSE WHO SAID “I DO” FIND THEMSELVES SINGLE AGAIN POST-DIVORCE.THOSE WHO SAID “I DO” FIND THEMSELVES SINGLE AGAIN POST-DIVORCE.
THE MARRIAGE GAP Married Couples with children now LESS THAN one in every four householdsMarried Couples with children now LESS THAN one in every four households One half ofOne half of 1960’s total
RICH GET RICHER TOTAL REPORTED INCOME INCREASED 9% IN 2005 THAT INCREASE -- AND MORE -- WENT TO THE TOP 10% -- $100,000+ BOTTOM 90% ACTUALLY LOST MONEY.
$238,572 $256,709 Prediction was that the average would flatten out Source: SalesTraq of New Mexico - www.salestraq.com/albuquerquewww.salestraq.com/albuquerque ALBUQUERQUE 2006/2007 “Average” & “Median” New Home Base Price Comparisons (12 month comparison – Detached single family homes)
“Buyer’s Market” Quantity of subdivisions in greater metropolitan area: 18 month perspective (Dec. 2005 - May 2007) *Includes Albuquerque, Rio Rancho, Los Lunas and the town of Bernalillo Total Number of new home subdivisions Source: SalesTraq of New Mexico - www.salestraq.com/albuquerquewww.salestraq.com/albuquerque
Consider: The majority of local new home development is priced beyond what the majority of the public can now afford.
.. Sources: SalesTraq of New Mexico - www.salestraq.com/albuquerque and Albuquerque Metropolitan Board of Realtors – www.abqrealtors.comwww.salestraq.com/albuquerquewww.abqrealtors.com Comparison of “Supply” vs. “Demand” in new home base pricing compared to resale purchasing (Detached single family homes) “Supply” “Demand” “Supply” “Demand”
Conclusion: We need more (affordable) ATTACHED new home product options
Forbes Ranks Albuquerque Among the Top Cities for Business Four Years In a Row Nation’s Best in 2006
Recent Rankings 1. Phoenix 2. Las Vegas 3. Tucson, AZ 4. Dallas, TX 5. Corpus Christi, TX 49. Albuquerque Top 100 Sweatiest Cities
Employment Growth From April to June, 2007 40% of the ABQ metro area companies interviewed plan to hire more employees, while none expected to reduce their payroll. - Manpower Preliminary Outlook for 3 rd Quarter, 2007 Construction will stay flat. Manufacturing will have a slight increase. Public employment reports a slight increase. Service and call center related positions report a moderate increase. General Slowing of National Economy - Manpower
Rio Rancho City Centre New downtown - 160 acres Mixed-use development consisting of government offices, retail, event center, and UNM West campus
UNM Hospital Richardson Pavilion U.S. News & World Report names UNM among Best 50 Hospitals of 2006 $233 Million, 476,555 sq. ft. expansion
Future Growth Roughly 170,000 homes are currently being master planned for the next 25-50 years Future Growth
Already attractive business climate is getting better Competitive costs (labor, real estate, taxes, utilities, insurance) Growing, diverse and well-educated community –31.6% of ABQ residents have bachelors degree or higher –The metro area’s population growth over the next five years is forecast at 9.1% versus the national average of 6.3% –Albuquerque’s 20-34 year old population is projected to expand by 10.3% over the next five years, twice the national average (5.1%) –ABQ is a minority majority community Technologically sophisticated community World Class Laboratories UNM & CNM and other institutions Albuquerque’s Assets