“Covering Your Local Economy” was first offered on Aug. 21, 2013, as part of the Asian American Journalists Association’s pre-conference schedule. The economy is still the biggest story going, and these resources will equip you with the story ideas and skills you need to tackle economic stories on any beat. Get armed with the tools and understanding you need to tackle local economic stories, including those in the labor and housing markets. WHAT YOU WILL LEARN How to find the economic angle in stories on any beat, How to use statistics to find and develop local economic stories, How to find fresh angles on the job and housing markets in your town, and What 10 stories on the economy you should jump on now. YOUR INSTRUCTORS Marilyn Geewax is the national economics correspondent for NPR. Geewax is regularly heard discussing economic news on Tell Me More, Talk of the Nation and Weekend Edition. Her work contributed to NPR’s 2011 Edward R. Murrow Award for Hard News for “The Foreclosure Nightmare.” Follow her on Twitter at @geewaxnpr Meena Thiruvengadam is business channel manager at Digital First Media’s Project Thunderdome. Previously, she covered the Treasury, Federal Reserve and economic news for Dow Jones Newswires and The Wall Street Journal in Washington. Follow her on Twitter at @Meena_Thiru. SELF-GUIDED LESSON Review the workshop materials below and discover new ways to cover local economic angles. PowerPoint presentations Covering Your Local Economy: It’s Everybody’s Business — Geewax When Will the Jobs Come Back? — Geewax What’s Happening with Housing — Geewax 10 Local Economic Stories to Jump on Now — Thiruvengadam For more information about training for business journalists, please visit businessjournalism.org.

1. Covering Your Local Economy:
What's Happening with Housing
Marilyn Geewax
NPR Senior Business Editor
In 2013 …

2. What We Will Explore Today
• Demand Is Rising
• But There Are Big Regional Differences
• Foreclosures Are Very Uneven
• Real Estate Is Hyperlocal

3. Housing Sector Spins Off Jobs for
Landscapers, Furniture Stores, Etc.

4. Things Are Finally Improving

5. Keep In Mind:
You Might Be Completely Wrong
The slowdown in the housing
sector “is a concern, but at this
point we don't see it as being a
broad financial concern or a
major factor in assessing the
course of the economy.”
-- Fed Chairman Ben Bernanke
Speaking to the House in February
2007.

6. Even Though You Never
Really Can Predict – We Have
Reason For Optimism
Because of Jobs

7. The Jobs Outlook Is Improving
http://data.bls.gov/timeseries/LNS14000000

8. Confidence Plunged Along With
GDP, But It's Smoothing Out
Bureau of Economic Analysis data

9. Good Sign – Fewer Vacancies

10. A Very Good Sign

11. New-Home Sales Up Sharply
from the Same Time Last Year

12. But Huge Regional Differences
• North Dakota is
booming, so
home prices
have shot from
an average of
$130,000 in 2011
to $180,000 now
- Zillow Oil rig in Williston, N.D., by Flickr user
lindsey gee

13. Many Areas Are Still In Poor Shape
• Nevada is still struggling to bring back
jobs, so home prices remain
depressed.
• In 2008, the
average house was
$211,000. Now
$153,000, according
to Zillow
Photo by Flickr user Thomas Hawk

14. Even Though You Never
Really Can Predict – We Have
Reason For Pessimism
Because of Aging Boomers
and Debt Overhang

15. As Boomers Downsize,
Who Will Buy Their Houses?

16. As Student
Debt Grows,
Less
Money For
Mortgages

17. Magic Wand Solutions
• Wipe out student debt
• Encourage immigration
• Raze vacant houses
• Create about 12 million jobs
• Give workers raises

18. To Understand Your Local
Market, Look At These Factors
Economic Fundamentals: Are Jobs Growing?
1. How Many Foreclosures Still On the Market?
What's the Backlog?
2. Are Investors Buying Houses?

19. Local Housing Data Can Be Found
at:
http://www.cbpp.org/cms/index.cfm?
fa=view&id=1406

21. Questions?
Thanks for coming!
Marilyn Geewax
NPR
mgeewax@npr.org
Twitter: @geewaxnpr
http:/bit.ly/XXX - SUB THIS
for workshop slides, handouts
Photo by Flickr user Xurble