Your Tax Assessor

THE MARRIAGE GAP

• REASONS FOR THIS STATISTIC:REASONS FOR THIS STATISTIC:

•YOUNGER PEOPLE ARE YOUNGER PEOPLE ARE PUTTING OFF MARRIAGE; PUTTING OFF MARRIAGE;

•THOSE WHO SAID “I DO” THOSE WHO SAID “I DO” FIND THEMSELVES SINGLE FIND THEMSELVES SINGLE AGAIN POST-DIVORCE. AGAIN POST-DIVORCE.

THE MARRIAGE GAP

•Married Couples Married Couples with with children nowchildren now LESS THANLESS THAN one in every four one in every four householdshouseholds

•One half ofOne half of

1960’s total 1960’s total

RICH GET RICHERTOTAL REPORTED INCOME TOTAL REPORTED INCOME

INCREASED 9% IN 2005INCREASED 9% IN 2005THAT INCREASE -- AND THAT INCREASE -- AND

MORE -- WENT TO THE MORE -- WENT TO THE TOP 10% -- TOP 10% -- $100,000+$100,000+

BOTTOM 90% ACTUALLY BOTTOM 90% ACTUALLY LOSTLOST MONEY. MONEY.

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000

$260,000

$270,000

$280,000

Base(brochure)

PriceJun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May

Month

Average

Median$238,572$238,572

$256,709

Prediction was that the average would flatten out

Source: SalesTraq of New Mexico - www.salestraq.com/albuquerque

ALBUQUERQUE 2006/2007 “Average” & “Median” New Home Base Price Comparisons

(12 month comparison – Detached single family homes)

0

10

20

30

40

50

60

70

80

90

D J F M A M J J A S O N D J F M A M

“Buyer’s Market”

Quantity of subdivisions in greater metropolitan area: 18 month perspective (Dec. 2005 - May 2007)

*Includes Albuquerque, Rio Rancho, Los Lunas and the town of Bernalillo

To

tal N

um

ber

of

new

ho

me

sub

div

isio

ns

Source: SalesTraq of New Mexico - www.salestraq.com/albuquerque

Consider:

The majority of local new home development is priced beyond what the majority of the public can now afford.

0%

10%

20%

30%

40%

50%

60%

70%

Percentage

$100K - $200K $200K - $300K

Price Range

"Supply"

"Demand"

.

.

Sources: SalesTraq of New Mexico - www.salestraq.com/albuquerque and Albuquerque Metropolitan Board of Realtors – www.abqrealtors.com

Comparison of “Supply” vs. “Demand” in new home base pricing compared to resale purchasing

(Detached single family homes)

“Supply”

“Demand” “Supply”

“Demand”

Conclusion:

We need more (affordable) ATTACHED new home

product options

Forbes Ranks Albuquerque Among the Top Cities for Business Four Years In a Row

• Nation’s Best in 2006

Recent Rankings

1. Phoenix

2. Las Vegas

3. Tucson, AZ

4. Dallas, TX

5. Corpus Christi, TX

49. Albuquerque

Top 100 Sweatiest Cities

Employment Growth

From April to June, 200740% of the ABQ metro area companies interviewed plan to hire more employees, while none expected to reduce their payroll. - Manpower

Preliminary Outlook for 3rd Quarter, 2007Construction will stay flat.

Manufacturing will have a slight increase. 

Public employment reports a slight increase.

Service and call center related positions report a moderate increase.General Slowing of National Economy - Manpower

Rio Rancho City Centre

New downtown - 160 acres

Mixed-use development consisting of government offices, retail, event center, and UNM West campus

UNM Hospital Richardson Pavilion

U.S. News & World Report names UNM among Best 50 Hospitals of 2006

$233 Million, 476,555 sq. ft. expansion

Future GrowthU.S. 550

SOUTHERN BLVD.

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Existing Residential

Planned Communities

Roughly 170,000 homes are currently being master planned for the next 25-50 years

Future Growth

• Already attractive business climate is getting better

• Competitive costs (labor, real estate, taxes, utilities, insurance)

• Growing, diverse and well-educated community– 31.6% of ABQ residents have bachelors degree or higher – The metro area’s population growth over the next five years is

forecast at 9.1% versus the national average of 6.3% – Albuquerque’s 20-34 year old population is projected to expand by 10.3%

over the next five years, twice the national average (5.1%)– ABQ is a minority majority community

• Technologically sophisticated community

• World Class Laboratories

• UNM & CNM and other institutions

Albuquerque’s Assets