You know snowshoe a couple of things about that economist leaving Juneau. A long time ago they did a research study on people's ability to predict the future. What they found was that people that can predict the future the best were people who had evenly balanced left brains and right brains.
But to get a PhD degree in economics you need a big left brain to do the math and abstract thinking,.I don't know that you need a right brain at all. As well, economics is a social science and I don't think we know nearly as much about it as we think we do.
But one of my 10 favorite sayings of all time really applies to this situation. Someone once said:" the sophistication with which one can solve a hypothesis is dependent upon how many variables they can hold in consideration at any given time."
So here are the variables as I see them. One, rents are usually the canary in the coal mine with regard to real estate values and rents in general have never been higher. That can only happen if there is more demand than supply. Two, real estate prices are at an all-time high and houses are selling usually within 30 days of being listed. Very low inventory for sale as well.
We have no land left in Juneau to build on, we became a bona fide regional center for all of Southeast Alaska with a first class hospital, Costco, Home Depot, Freddie Myers, etc. Additionally it seems like people have simply discovered Juneau and are moving in. We have a million tourists a year. Our economy could easily support many more people than we have and help wanted signs are around.
On top of that, this new marijuana legalization law is going to probably bring tens of millions of dollars and hundreds of jobs to Juneau. The reason being is that it requires that all pot that is grown be tested, but the villages, communities and cities in Southeast Alaska for the most part are not going to be able to afford such a lab. So most of the weed is going to be grown and tested and marketed in Juneau and people from all over the region including the million tourists a year that come here are going to be coming to Juneau and buying a tremendous amount of pot.
In Colorado a recent study showed that half the tourists go there to get pot. And last, remember Alaska has $60 billion invested around the world and we pay no state taxes and we only have 700,000 people. Recently Alaska was rated as the most solvent state in the union. Good old permanent fund and most people of forgotten that the Democrats had to fight the Republicans in a blood in the street fight in order to get the permanent fund. Republicans don't like big government and that is big government. Ironically we were led by one of the last liberal Republicans on the planet, the Bush rat poet and wonderful Jay Hammond.
So my guess is that guy with the economics degree probably would've done better as an accountant or is probably just homesick-lol.
Cheers |
