The Rotary Club of Kirkland held a virtual meeting via Zoom on June 10, 2024.
President Gary Cohn called the meeting to order at 6:15 p.m.
President Gary led us in the pledge. Jocelyn Ellison recited the Four-Way Test.
Attending were Cody Baker, Michelle Cazeau, Gary Cohn, Donald Dicks, Sandy Ekins (Honorary), Jocelyn Ellison, Rashmi Garimella, Brandon Honcoop, Kate Koslosky, Jim Meniketti, Joanne Primavera, Daniel Sada Caraveo, and Rick Walter.
Guests:
Our guest this evening was Dr. Matthew Gardner of Gardner Economics.
Announcements:
President Gary shared several announcements.
The club’s board of directors meeting was moved to this coming Thursday, June 13, at the Fraternal Order of Eagles Meeting Hall on Central Ave. Scott Becker arranged for the board to meet in the hall in order to develop a sense of how meetings might be held at this venue.
President Gary visited with the Rotary Club of Downtown last Tuesday morning in the building foyer above 5 Stones Coffee, delivering their club flags from Madison House, promoting the rummage sale, and contributing to their round of Happy Bucks. Rick Walter added that he visited the Redmond club very early in the morning, and enjoyed their raffle, which involved buying tickets for items that club members donated for that meeting.
Jim Meniketti has organized a community service event at Hero House. The club donated funds to purchase mulch, which members may gather to spread this coming Thursday. Information is on the website calendar.
Rick Walter is coordinating the club’s presence at the District 5030 celebration. If any additional members want to attend the District Celebration on June 24, they should contact Rick as soon as possible. The event is in Bellevue, and a seat at the table is $110.
Three of the club’s upcoming in-person meetings are scheduled at venues various members have contacted and would like to assess for regular meetings. On July 1 the club is scheduled to meet at the Kirkland Eagles on Central; on July 22 at L’Experience Paris on Lake Washington Boulevard, and on August 5 at Sparrow in Juanita Bay. At this moment, whether another venue will be tested on August 19 is still to be determined.
Dues invoices for 2024-2025 were issued June 1 and are due by June 30. If members are not paying via the online Dues & Billing System, please have checks or cash in the treasurer’s hands by Friday, June 28.
Please remember that our president-elect, Pete Anderson, is away from the club for medical treatments for several month. This means we need past-presidents to sign-up for club meeting leadership, whether in-person or online. On Tuesday, President Gary will send an email inviting past presidents to select meeting dates.
Rummage Sale is July 13; yard signs available from President Gary, who accepted the box from the Banner Bank team. There are 30 of 100 yard signs remaining to be distributed and posted around the Greater Kirkland area. City rules prohibit placing the signs on roadway medians.
Program:
President Gary introduced our speaker, Dr. Matthew Gardner, who is widely recognized as being one of the foremost real estate economists in the country and speaks to more than 75 groups per year regarding economic and housing markets condition.
In addition to his speaking engagements, Matthew sits on the Washington State Governors Council of Economic Advisors and is an Advisory Board Member at the Runstad Department of Real Estate at the University of Washington where he also lectures in real estate economics.
Matthew’s economic forecasts are used by the Federal Reserve Bank of Philadelphia, and his housing forecasts are used by Reuters in their U.S. Housing Market forecast and by Fannie Mae in their National Home Price Expectation Survey.
Mathew presented a variety of slides demonstrating the impact of interest rates and other factors on the stock of single family housing, relating his analysis of the effect Federal Reserve and federal legislative (especially tax) policy has on real estate prices and supply. One of the key factors he related was the exceptionally low interest rates that occurred during the recent past, and how that has locked up home ownership for a great number of families; there is little incentive to sell when the loan rates are so much higher now. He described various strategies for increasing supply, and took a variety of questions from the members attending.
President Gary thanked Mr. Gardner and noted the club makes a donation to Harvest Against Hunger in honor of his presentation.
The meeting was adjourned at 7:15 p.m.
Respectfully Submitted
Gary Cohn
Acting, Acting Scribe for Dave Aubry, Acting Scribe