Melissa tells me BLOG’s are supposed to be about what I am thinking about, dealing with, care about or would like to change…Not always Real Estate! I guess she thinks what we do may seem a bit dry to others at times…Maybe she’s right.
So I just hung up the phone after speaking to my financial guy (My wife’s cousin with Wells Fargo) He’s a commodities broker and specializes in raw materials and farm products…He handles the “family money” and has handled my investment portfolio (I handle my Real Estate investments as you may imagine) for over 20 years! He’s quite good! We have not yet had a losing year despite the economy and trajectory of the recent market trends!
Why then did he mention the “R” word? (Recession) He convinced me to place a standing order to sell at $435/sh on Apple…I was against it at first (Remember I just bought that Ipad II last month!) but he’s paid to know these things and so I reluctantly agreed…I quizzed him on McDonald’s and PepsiCo as both did well for me last time the economy hit the skids…He’s bullish on both again and has me looking into more of the same.
All this may seem dry and uninteresting, but in my world…It’s not. Leading indicators are huge and in Real Estate we watch new home starts, new building permit orders, Existing housing sales, rental rates, shipping from Big Box stores of home building materials and yes…Interest rates. All those and others continue to point UP and have for some time now…So what’s all the fuss?
There is a saying that when your neighbor loses his job, it’s a recession and when you lose yours it a depression…Rings true I’m sure and unemployment in this country need to be fixed!! People can’t buy a home without a job, won’t sell a home if they lose their job and the uncertainty is killing growth! Everyone can agree that we need change. The economic “sit in’s” happening around the country are good! People need to get more (and deeper) involved in the elected government that controls us. My industry depends on it…I’ll assume yours may too? How comfortable are you? Worried about your job? Your kids? Your kids having what you had?
I see signs every day that things are improving…So what’s with the “R” word Joe? I am letting you sell my Apple! (FYI-He disagreed with those who continue to spread these thoughts…As do I)