BURKGATES

The Dallas Real Estate Council made its recommendations for all contested Dallas City Council races, but there’s a bit of bitterness over the council’s choice in District 13.

Rudy Bush at the DMN’s Local Politics blog has the full story. Basically, by choosing Jennifer Staubach Gates over Leland Burk in District 13, the council showed that “the fix was in,” campaign manager Clayton P. Henry said. Staubach Gates’ husband, John Gates, is on the board of the Real Estate Council, Henry offered as evidence.

“Pulling strings will not sit well with the voters of District 13,” he added.

Folks on the sidelines see this race going down in a spending spree. Both candidates are heavyweights with big budgets and connections. Outgoing District 13 representative Ann Margolin has endorsed Leland Burk, and Jennifer Staubach Gates has a pedigree and connections that would take ages to sort through.

In District 14, Bobby Abtahi added another nod to his list of endorsements. (Full disclosure: Candy Evans, founder of CandysDirt.com, endorsed Abtahi for District 14.)

The Real Estate Council made no recommendation in District 4, wh

Other endorsements include:

District 1: Delia Jasso (incumbent)
District 2: Adam Medrano
District 3: Vonciel Hill (incumbent)
District 5: Rickey Callahan
District 6: Monica Alonzo (incumbent)
District 7: Carolyn Davis (incumbent)
District 8: Tennell Atkins (incumbent)
District 11: Lee Kleinman

Do you agree with the endorsements?

Dallas Fed president and CEO Richard Fisher told the Dallas Real Estate Council this morning the usual rah rah Texas stuff:¬† Texans are uniquely qualified to turn the economy around and get a grip on the nation‚Äôs $14.2 trillion debt. Lower unemployment here. We built and can continue the greatest job-creating machine in the world, we are risk-takers, but we need to be more intellectual. Dallas, he said, needs more universities and intellectual think tanks, what he called “warehouses for the capitalist‚Äôs tools‚Äîthe human mind.” And we cannot stay ahead of the game unless we create great universities, he said. He’s so right — one reason why Houston is forging ahead of Dallas is the abundance of great Houston universities, like Rice.

But I wanted the real estate juice, and I got it: existing inventory is being absorbed, thanks to the dearth of construction. And capital is no longer an issue, banks are lending — really? The central bank, he says, has done it’s job.

But here’s the sweet spot of what he said: inflation. Fisher is concerned about rising inflation world-wide that may start to push up wages in Europe and the U.S. He’s hearing talk of¬† pay increases of 3 percent or so in certain high value-added areas, like Washington, D.C., and there’s an inflationary dynamic building world-wide.

“We just have to be very careful not to accommodate inflation in the United States,” Fisher said.

Could very well be why some major money people are buying up real estate.