PHOENIX, ARIZONA – Dr. Christopher Thornberg is well known for forecasting the subprime mortgage market crash that began in 2007 and was one of the few economists on record to predict the global economic recession that followed.
Dr. Thornberg is a featured speaker and will present “Will the Real Economy Please Stand Up?” at the 21st Annual Arizona Self-Storage Association (AZSA) Conference & Trade Show Sept. 25 and 26 at the Wild Horse Pass Hotel & Casino, 5040 Wild Horse Pass Blvd., in Chandler.
AZSA is the trade association that represents the self-storage industry in Arizona.
“AZSA consistently strives to bring in speakers with the credentials of Dr. Thornberg to address our conference,” said Dave King, Managing Director, Self Storage, for Wentworth Property Company and AZSA President. “Whether it’s the U.S. economy or the local economy, speakers at our conference present the most accurate, timely and relevant information.”
Dr. Thornberg will speak on Sept. 25. Beacon Economics LLC was founded by Dr. Thornberg in 2006. It’s one of the most respected research organizations in the country, serving public and private sector clients across the U.S. He is an expert in economic and revenue forecasting, regional economics, economic policy and labor and real estate markets.
“Phoenix is one of the most successful cities in the U.S. from a growth perspective,” he said. “That’s a huge upside. That’s where people are moving. It still has a relatively low cost of living in relation to other parts of the country. As long as that continues the next couple of years, the Arizona market will be strong.”
Appearing on a podcast for RE Radio in California, Dr. Thornberg discussed the inverted yield curve the financial market witnessed recently.
“We do not really know the answer,” he said when asked if the likelihood of a recession will increase. “Every one of the last recessions was preceded by an inverted yield curve. It is probably one of the strongest indicators that we are about to go into a downturn.
“There are typically other issues at play. The Federal Reserve is typically responding to some growing imbalance inside the economy. The result is rates being pushed up to try and cool things off to invert the yield. It is a symptom of another underlying problem rather than a problem itself.”
The AZSA conference comprises the Owners Summit on Sept. 25 and the Operational Symposium on Sept. 26. The annual golf tournament precedes the conference Sept. 24 at Whirlwind Golf Club at Wild Horse Pass.
This year’s theme is “Embracing Change to Compete Today.”
“Self-storage is no longer under the radar as an asset class. If you are an investor or business owner, there’s never been a more important time to know what’s going on in the industry. Due diligence is more important than ever before,” King said.
The conference will include vendor/sponsor exhibits in the showroom where presentations take place. Registration fee is $190 for owner/operator members; $240 for owner/operator non-members. Register here.