A Midyear Assessment of the Outlook
for the U.S. and Montana Economies
with a Special Focus on Housing Affordability
Presented by the Bureau of Business and Economic Research
Housing – that most basic need that any successful social system must provide – is shaping up as a huge failure point in our economy, especially in Montana. All of us can see the problem – it’s just crazy expensive, especially in the faster growing parts of the state where economic opportunities are the most plentiful.
How expensive? Statewide, housing prices today are 60 percent higher than the beginning of 2020, and rents have ballooned as well. Median home prices in Bozeman now exceed prices in Seattle, approaching $1 million. The pressure on housing is showing up everywhere from property tax bills to homeless encampments.
We have dug ourselves a deep hole when it comes to addressing housing, no question. Perhaps we should stop digging. The consensus on what’s wrong with housing quickly breaks down when it comes to agreeing on solutions. And in a sector of the economy already layered with programs, subsidies, tax breaks and regulation from all levels of government, the notion that adding a few more will fix the problem falls flat.
Join us at our 2024 Economic Update programs around the state as we take a fresh look at policies and actions that could move the needle on housing affordability. Even if consensus and political will are in short supply, that shouldn’t stop us from understanding what an effective path forward for fixing housing might look like. The Midyear Economic Update is 90 minutes long and includes breakfast, lunch or appetizers, depending on the city. Don’t miss this informative program with all of the latest economic updates.
Join Us This Summer:
Billings – Tuesday, July 30
7:00 – 8:30 am, breakfast
Northern
Bozeman – Tuesday, July 30
Noon – 1:30 pm, lunch
Best Western GranTree Inn
Butte – Tuesday, July 30
4:00 – 5:30 pm, appetizers
Northwestern Energy General Office
Helena – Wednesday, July 31
7:30 – 9:00 am, breakfast
Colonial
Great Falls – Wednesday, July 31
Noon – 1:30 pm, lunch
Meadow Lark Country Club
Missoula – Thursday, August 1
7:30 – 9:00 am, breakfast
Hilton Garden Inn
Kalispell – Thursday, August 1
Noon – 1:30 pm, lunch
Hilton Garden Inn
Speakers
Patrick Barkey, Director
Patrick Barkey has served as Director of the Bureau of Business and Economic Research since 2008. He has been involved with economic forecasting and policy research for more than 30 years, in both the private and public sectors. Before coming to Montana he served as Director of the Bureau of Business Research at Ball State University in Indiana for fourteen years. His recent research has been on the economic impact of energy development, the property tax treatment of the telecommunications industry and the economic impact of trade with Canada. He holds a B.A. and a Ph.D. in economics from the University of Michigan.
Todd O’Hair, President and CEO at Montana Chamber of Commerce
As President and CEO of the Montana Chamber of Commerce, Todd works with over 2,000 business members representing every size, industry, and region in the state. A Montana native, Todd hails from Livingston where his family owns a multi-generational family ranch. Before being named President and CEO of the Montana Chamber, Todd was the Senior Manager of Government Affairs for a major coal mining company, Cloud Peak Energy. While at Cloud Peak, he served on the Montana Chamber of Commerce board of directors and was the chair of the board in 2016-17. Before Cloud Peak Energy, Todd worked in Gov. Judy Martz’s office for four years. He also served as the Natural Resources Policy Advisor for Congressman Rick Hill in Washington, D.C., and later as State Director.