Freddie Mac Chief Economist Tells Economic Club of Las Vegas: National Recovery Continues to Improve

LAS VEGAS - July 3, 2014 - PRLog -- National economic trends suggest that the recovery continues to improve. In addition, local indicators suggest that Las Vegas is moving in the right direction. That message was recently delivered by Dr. Frank Nothaft, Chief Economist for Freddie Mac, in his speech to The Economic Club of Las Vegas (ECLV) at Caesars Palace Hotel and Casino.

Dr. Nothaft’s presentation drew an audience of more than 120 people, who gained perspective on the national and local economic recoveries as well as conditions and prospects in the national and local housing markets. Las Vegas experienced one of the hardest hits to its economy by the housing market crash, financial crisis, and Great Recession.

A link to Dr. Nothaft’s presentation, which includes an explanation of Freddie Mac’s U.S. Multi-Indicator Market Index, or “MiMi,” is posted on the ECLV website at www.econclublv.org.

The MiMi, which was launched by Freddie Mac earlier this year, indicates how close housing markets are to their sweet spot, which Freddie Mac defines as “where prices, demand, affordability and sales are stable and sustainable.” To determine housing-market stability, MiMi incorporates the information from four housing market indicators -- home-purchase applications, payment-to-income ratios, fraction of mortgages current in payments, and the employment situation -- to gage the temperature of the housing market. That is, is the housing market too hot, too cold, or just about right?

Since its inception in 2013, ECLV has assembled a prestigious group of board members and a strong team of officers dedicated to bringing nationally recognized speakers to Las Vegas. The Club plans to host a series of events annually.

For more information about ECLV, corporate sponsorship opportunities and events, visit www.econclublv.org or call 702-558-9202.