DALLAS, May 10, 2010 (BUSINESS WIRE) -- Prime Income Asset Management (Prime) and Liberty Bankers Life Insurance Company (Liberty) recently sponsored their 2nd Annual Economic Symposium featuring guest speakers Dr. Harvey Rosenblum, Executive Vice President and Director of Research, Federal Reserve Bank of Dallas, Dr. James P. Gaines, Research Economist at Texas A&M Real Estate Center, and Dr. Bernard L. Weinstein, Associate Director of the Maguire Energy Institute and Adjunct Professor of business economics in the Cox School of Business at Southern Methodist University. The topics covered the US economy, Federal Reserve monetary policy, the outlook for 2010, as well as, the current real estate markets and outlook for the US, Texas, and Dallas.
The message was clear; though the real estate market is still lagging, we're beginning to see signs of overall economic recovery. Dr. Harvey Rosenblum emphasized we've had "two quarters of GDP expansion, employment is starting to expand, and consumption in rising." Dr. Gaines added that "American businesses have right sized and consumers are fixing their balance sheets." All three economists agree that Texas is poised for a boom in the 21st century, and Dallas may very well become one of the nation's "world capitals" along with New York and Chicago. In a specific look at the Dallas real estate market, Dr. Bud Weinstein detailed that "Dallas only needs a 5% gain in values in order to return to the city's pre-crisis peak," a great sign for Dallas as this is the lowest gain needed out of the 20 major markets.
Daniel Moos, President and CEO of Prime commented, "We were excited to again provide this public service to fellow professionals. Harvey, Jim, and Bernard are three of the nation's most renowned economists and we're honored that they dedicated their time and knowledge to help us sort through trends in the national economy, real estate markets, and the Texas and Dallas-Fort Worth area." You can view full versions of all three presentations at Prime Income Asset Management's website www.primeasset.com.
Prime Income Asset Management, LLC is a Dallas-based real estate management company, which owns, develops and manages over $3.5 billion dollars of commercial real estate for public and private real estate entities and advises energy companies with both domestic and international gas, oil, and electricity operations. Liberty Bankers Life Insurance Company is a Dallas-based financial services company with over $1.4 billion in assets offering both individual and company life insurance and annuity products.
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