2008 Economic Forecast
November 14th, 2008 - Linda Miller
Certainly the last thing we need is more troubling news when it comes to the economy. Everyone appears to have made it through the elections with some portion of sanity, so let’s be strong once again and talk money!
On November 13th I attended the 2008 Economic Forecast at the Convention Center. Aren’t economists delightful folk? The two very qualified economists provided information to enlighten, encourage, discourage, frighten and even totally dull one’s senses. But let me give you the run down: our Pacific Northwest is faring much better than areas like California, Arizona, and Nevada. While we are seeing slow downs, none of the charts showed us falling off the world! Here are a few statements that caught my attention: “every recession that we have ever had has ended”; and “we always tend to underestimate the resilience of the U.S. economy”.
Both of these distinguished men had a great sense of humor and Dr. Forsyth started out with these epiphanies: 1) Gosh, I’m Broke, 2) A positive net worth is for wimps and elitists, and 3) I’m glad I’m not President. Dr. Mitchell was also a poet and it was a nice chuckle as he ended his presentation with his own rendition of the economy. I choose to take the positive side of most news so I haven’t given you all the doom and gloom detail.
In case you are interested you can find the presentation in slide form at GreaterSpokane.org. The link is on the front page–enjoy the graphs! I also met personally with two bankers this week–there are good loans available for buyers–and there are good buyers for those loans. Keep smiling… we’re building character. I am still helping clients buy and sell homes, so something is going right!