Alaska News

'Should I sell my house?' panel avoids answering question of the day

With oil prices low, the state economy at a crossroads and some economists already voicing the possibility that Alaska is in a mild recession, nonpartisan public policy group Commonwealth North hosted a breakfast panel on Tuesday provocatively titled, "Should I Sell My House?"

"We will offer you practical insight into how key business sectors view the economy and help you answer the question," the email for the event promised.

But representatives from the real estate and residential construction industries, perhaps among those most qualified to answer, were markedly absent from the panel.

Instead, presenters from the health care, commercial construction and oil and gas industries gave solid overviews of their industries, but steered clear of the topic. State labor economist Neal Fried talked about how the economy preceding the devastating 1980s recession was different from the economy today.

It took an audience question to bring panelists back to the ostensible reason behind the 7:15 a.m. event. And so, in the waning minutes of the breakfast, the discussion was taken up by two economists.

Scott Goldsmith, professor emeritus at the University of Alaska Anchorage's Institute of Social and Economic Research, said he is not planning on selling his house.

"I'm here for the long haul," he said. Goldsmith added that he hopes "the state gets its act together in Juneau. I think that's the most important signal, that we have a game plan and are moving to execute it."

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Fried said he's not selling his house, either.

"As far as real estate and devaluation, the October numbers are still positive (compared to the same month last year)," he said. "That's as far as I'm going."

Jeannette Lee Falsey

Jeannette Lee Falsey is a former reporter for Alaska Dispatch News. She left the ADN in 2017.

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