May 16th Chamber Luncheon
Edsel Charles- Board of Market Graphics Research-Presenter
The May luncheon, hosted by the White House Area Chamber of Commerce, was held in the Don Eden room of city hall. The luncheon was catered by Colorado Grill.
Mr. Charles was the guest speaker. His short bio is in the photo above. Donnie Eden, chairman of the chamber, introduced him as the Nostradamus of real estate and markets. He has the number two marking research firm in America reaching more states than the number one firm.
Charles started his presentation lighthearted with jokes about turning 80 very soon. He is starting to like biblical characters like Caleb more since Caleb was 80. Dave Ramsey used to work for him, and when Ramsey introduced Charles as a mentor, Charles stated that he realized that just meant he was old. He then began a story about his 47 year long research project into the 70 types of people in the bible that Solomon mentioned. That research has been compiled into 3316 written pages.
The research that his firm does is based on court records and plats. They count the number of houses all of the numbers all over the nation.
No builder builds with the intention to have an unoccupied home. The following charts and graphs will show where middle TN is headed, and Charles stated at the beginning there are “challenging times” ahead. His firm counts the Newly Finished Unoccupied homes in the nation every 4 months. In this graph, the orange tells the current NFU, and the blue is the max the market can handle. Looking at this graph, you can see in the 325/425 range, the total of NFU have added 7k homes in 4 months. That price range is 2 months away from a problem. The 425/625 range had an increase of 24k in NFU homes.
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