Economic seminar looks at housing markets in wake of pandemic

The COVID-19 pandemic has impacted the economy through surging house prices, labor shortages and sky-high inflation rates. Those topics are part of the 47th Annual Economic Outlook Seminar held in communities throughout Montana

The University of Montana's Bureau of Business and Economic Research brings its economic seminar to Kalispell on Tuesday, Feb. 8 at the Hilton Garden Inn.

“Housing prices accelerated sharply across many Montana markets in 2021, as very low mortgage rates and increased appetite for housing in the wake of the pandemic hit markets with limited supply,” according to Patrick Barkey, director of the University of Montana Bureau of Business and Economic Research. “Housing prices rose by 30% in Bozeman, 21.3% in Missoula, 13.1% in Billings and 12.3% in Great Falls.”

Barkey and a team of BBER economists and industry experts are traveling the state to give national, state and local area economic forecasts, reporting on major sectors of the economy. The theme of the seminar is “Where is Housing Headed? How Will Today’s Imbalances be Resolved?”

The keynote speaker is Abigail St. Lawrence, an attorney and lobbyist who has spent nearly two decades working on water rights, land use, and housing and development projects.

In addition to the increase in housing prices, declines in the labor force continue to impact Montana businesses.

“The labor market is healing, but older workers, in particular, have been reluctant to return,” Barkey said. “Montana employers are going to continue to struggle to find workers.” Montanans have also been impacted by the unwelcome return of price inflation, which makes planning for the future a challenge, Barkey said.

The seminar runs from 8 a.m. to 1 p.m. and highlights the latest economic trends for local economies and the state.

Registration costs $90. For Montana University System faculty, staff and students, registration is $25. Attendees will receive a copy of the 2022 Montana Economic Report, a book of the PowerPoint presentations, lunch and a one-year subscription to Montana Business Quarterly, BBER’s award-winning magazine. Continuing education credits are available, and groups of five or more can receive a discount.

For more information, or to register, visit http://www.economicoutlookseminar.com or call 406-243-5113.