CBEI Central Wisconsin Spring 2021 Report

CENTRAL WISCONSIN

SPRING 2021 REPORT

HOUSING BUBBLE? The Dynamics of the Real Estate Market in Central Wisconsin

by David Schalow, Ph.D., CLU, ChFC, CFA, CFP Professor of Business

UWSP

Looking to the Future The Center for Business and Economic Insight staff is looking forward to getting back to normal and that means reviving our bi-annual face-to-face breakfast meetings and physical publications, starting this December!

Table of Contents

The Economy: Where We’ve Been and Where We’re Going..............1-6 Kevin M. Bahr, CBEI Chief Analyst Economic Indicators.........................................................7-12 Scott Wallace, CBEI Director and Editor National Economic Statistics.............................................7-9 Table 1: Key Economic Indicators Table 2: Contributions to Percent Change in Real Gross Domestic Product Table 3: Lifecycle of the Expansion Labor Market Statistics....................................................... 10 Table 4: Labor Market Indicators from LAUS Table 5: WI Employment by Major Industry Sector County Economic Statistics. ...............................................11 Table 6: Help Wanted Advertising Table 7: Unemployment Claims Housing and Construction...................................................12 Table 8: National Affordability Index Table 9: Median Home Prices and Home Sales Table 10: Residential Construction Table 11: Nonresidential Construction Special Report................................................................ 13-17 Housing Bubble? The Dynamics of the Real Estate Market in Central Wisconsin David Schalow, Ph.D., CLU, ChFC, CFA, CFP Column: Insight Spotlight.............................................. 18-19 The Creative Economy: Life After the Pandemic Greg Wright, M.A., and Jason Davis, Ph.D. UW-Stevens Point MBA Program. ................. Inside Back Cover

As we look to the future, Chief Analyst Kevin Bahr provides needed context in The Economy–Where We’ve Been and Where We’re Going . Here, Kevin describes

the economic impact of the pandemic and the contours of the upcoming economic recovery as well as the long-term challenges posed by increasing deficits and debt. Are you in the market for a new home? Are you thinking about selling your existing home? If so, you will want to pay close attention to our special report, Housing Bubble? The Dynamics of the Real Estate Market in Central Wisconsin by School of Business and Economics faculty member Dave Schalow. Dave analyzes the economic forces that propel our current real estate cycle and their impacts on home prices and availability at the national, regional, and local levels. Thanks go out to Natalie Aneskavich of Lakeland Real Estate for providing important local >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23

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