Central Minnesotans May Take Advantage of This Travel Option

Due to the value of the U.S. dollar St. Cloud State Economist King Banaian believes this could be a good time to travel overseas.  Banaian joined me on WJON today.  He says the U.S. dollar is about as strong as it's been in quite some time.  Banaian indicates if you travel overseas your dollar is going to buy more things in Europe, Asia and/or Latin America.  He says basically international travel is on sale for Americans.  Banaian believes for those who may have chose to travel domestically they may now embark on a flight overseas.

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Gas prices in the St. Cloud area vary from $2.90 a gallon to $3.19 as of Wednesday morning.  Banaian agrees with national gas analysts who believe we have hit our price peak for the spring/summer.  He thinks the price isn't likely to drop much if at all over the next few months.  Banaian does expect prices to spike a little prior to heavy travel weekends like the fishing opener, Memorial weekend and 4th of July weekend.

The housing industry in Central Minnesota has been heavily affected by interest rates.  Banaian expects the 7% interest rate average to maintain and this is causing many people to chose to stay in their current home because of their locked into lower interest rate.  He says it is still a seller's market locally and homes priced right don't last long on the market.  Banaian says there are more interested buyers than those willing to sell.

Banaian also discusses the economy and why the country avoided a recession.  If you'd like to listen to my conversation with King Banaian, it is available below.