This week I reflect on the media explosion over Manhattan’s housing woes (A1 NYT version) and Nightly Business Report and some of the remaining gatekeeper thinking. While London is falling down but not as much, it’s time to revisit the word “recovery.” Bernanke said recovery in 2010. Technically it’s not a recovery when “L” or “J” shaped.
The latest WSJ survey of economists forecast the recession to end in September, there still won’t be any improvement in employment until later half of 2010. 8.5% to 9.5% in the meantime. Same goes for housing.If credit stabilizes by the end of the year, it will still be another year or more before housing begins to stabilized.
Recent positive stock market results have made everyone feel good, especially the wealthy – even the administration is chiming in. The Wealth effect – sort of. And perhaps the housing crisis isn’t a crisis?
A few mortgage brokers we work with (we only have a handful of those) are running into cash flow problems with low volume and one chooses to re-frame the agreement to show they are doing us a favor.
I twitter a little on social networking and marketing and marvel at how its the communication tool for those older than 21 and in a related item, recommend a great Inman story on non-experts.