RW’s TX CRE Brief: 07/30/21
Did you know? Texas is the Largest Energy-Producing State in the Nation.
This week’s newsletter includes:
1) TX CRE Brief - Update
2) Economic data & policy
3) Books, courses, podcasts
1) TX CRE Brief - Update
“The Brief” is going to be “brief” this week. Lot’s of time on the road and other projects demanding my time. Remember, time is your only true asset, use it wisely.
No specific deal information this week. That said, the multi-family and industrial sectors are going strong. Yet to be seen how the latest Covid-19 news will impact the office, retail and restaurant spaces. Only time will tell.
2) ECONOMIC DATA & POLICY
Texas A&M’s Real Estate Research Center reports on July 24 that The Texas Weekly Leading Index decreased again. This marks the third week for a decrease, which they again attribute to higher unemployment claims and lower new business applications. Covid-19 is bringing more uncertainty as well.
Wells Fargo’s Weekly Economic & Financial Commentary for July 30 shares that demand is continuing to outstrip supply, and that consumer spending exceeded expectations.
The Gross Domestic Product, 2nd Quarter 2021 (advance estimate) was released by the Bureau of Economic Analysis. It shows Q2 GDP growing at 6.5% and a revised down Q1 number of 6.3%.
The BEA also released June 2021 Personal Income and Outlays data. Personal Income up 0.1%. Disposable Income down 0.1%. Personal Consumption Expenditures up by 1.0%.
JLL research opines on the economy with “Is it Really Different this Time.” This article is a very good overview of what we’ve gone through and what JLL sees for the future.
AAA reports that as of July 30, the national average for gasoline is at $3.16 with Texas’s average dropping by a few cents to $2.83 a gallon.
3) BOOKS, COURSES, PODCASTS
Sandler’s “How To Succeed Podcast” this week featured Mike Montague interviewing Susan Sykes on the subject of “Taking a Day Off.” Takeaways: Empower others so you are not the only one who can do what you do. Continual learning and self-development are essential. Learn to adjust your communication style to that of your audience.
Since one of Susan Sykes’ takeaways was communication, it’s a good time to reflect on some coursework I completed a few years back.
In 2018, I attended a summer program at UT. “Strategic Communication Boot Camp” was held at UT Austin as part of its Center for Professional Education. The five-part course was comprehensive and covered all areas of Strategic Communications: Establishing a Communications Toolbox, Communicating Complex Ideas through Storytelling, The Manner of Delivering a Message, Data Analytics, and The Five Dimensions of Crisis Communication.
There’s an old line that I like, “experts simply do the basics well, all of the time, under pressure, and they make it look easy.” I’m not going to run around claiming to be an expert anytime soon, that’s really for others to judge. What I will say is that this program at UT has paid great dividends as I continue as a lifelong learner, striving toward unconscious competence in many areas of my life. “Hook ‘Em Horns.”
THANK YOU
I hope you enjoyed this week’s TX-CRE-Brief. If you see something that might be of interest and should be included in a future brief, please send it along via DM on LinkedIn or by e-mail to TX.Sales.Leadership@pm.me.
And please, by all means, support the sources I link to above.
Thanks everyone!