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10/30/2008 15:03:23
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Subject: Recovery Time of the Economy
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Elsie Hermann
Joined: 09/25/2008 21:54:44
Messages: 202
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(question from an IREM member): What should we tell owners/landlords regarding recovery time of the economy? Most will look to property managers for this information. How should we address the questions regarding a recovery time of the economy?
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10/30/2008 22:18:20
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Subject: Re:Recovery Time of the Economy
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Owen Ahearn
Joined: 10/29/2008 19:29:04
Messages: 64
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The answer for the recovery time of the economy is not a simple one. Although we are asset managers and property managers, we are not economists. We may however look to economic trends from a variety of resources to view market data (national, state and local Realtor Associations, U.S. Bureau of Labor Statistics, U.S. Census Bureau, and for foreclosure rates - the Federal Reserve Bank of New York). Viewing these resources will allow us to graph upward or downward ticks in the economy and view possible recovery trends.
Historical downturns in housing markets often take upwards of five years to recover. That would place most regional markets in a timeframe of recovery around 2010. As managers, we need to always be educated on a variety of subjects to keep our owners and investors pleased.
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11/18/2008 18:05:06
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Subject: Re:Recovery Time of the Economy
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Jesse Holland
Joined: 10/28/2008 19:54:22
Messages: 38
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at the NYU conference on capital markets last week an economist form Deutch bank suggested that we will see a -4% gdp number for the fourth quarter and probably -1% for the first quarter. The common feeling seemed to be the economy would improve by the end of 2009.
Or maybe they have no idea - your quess is as good as theirs.
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11/27/2008 20:22:20
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Subject: Re:Recovery Time of the Economy
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Donald Cheng
Joined: 11/27/2008 19:45:16
Messages: 16
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Haha lol that would be like asking what the numbers for next week's megamillions will be. I usually look at economics as a wierd science. I would rather ask what the economy for a certain specific area or zip code would be. Real Estate is one of the things that can be broken down into fundamentals of history, demographics, and industry. I don't even trust the appraisers these days sometimes. I handle construction as well as management and some of the pricing variances between build and sales were just out of the sky.
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12/02/2008 12:36:33
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Subject: Re:Recovery Time of the Economy
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Lori Burger
Joined: 09/15/2008 19:57:58
Messages: 75
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As the news of the day hits the press, the US is in a recession. I think many are holding their breath to see what life Obama's administration can breath into the economy. Stay tuned.
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01/24/2009 11:44:30
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Subject: Re:Recovery Time of the Economy
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Owen Ahearn
Joined: 10/29/2008 19:29:04
Messages: 64
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There will be various times in the recovery, as you would as a manager be dealing with local, state and national recovery. Our local five star chapter #4 (Metro Boston) annually sponsors a monthly breakfast meeting/economic forecast in January to inform members of the ecomonic forecast as it relates to the various housing markets in New England and other key regional east coast markets.
Perhaps your local chapter does as well!
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02/21/2009 16:41:30
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Subject: Re:Recovery Time of the Economy
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Jesse Holland
Joined: 10/28/2008 19:54:22
Messages: 38
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Probably the best answer is we can guarantee that things will either go up or down, but they never stay the same. this is an industry of cycles. always has been always will be
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02/21/2009 18:27:21
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Subject: Re:Recovery Time of the Economy
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Marjean Pountain
Joined: 09/26/2008 09:25:38
Messages: 61
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Unless you have a crystal ball, no one knows. These are scary times and we must be prepared for the worst and do our best to be frugal, protect the assets, and conserve the tenants and resources we have on hand. Don't make promises or predictions that you probably won't be able to follow through with.
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11/25/2010 05:36:37
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Subject: Re:Recovery Time of the Economy
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Sanjeev Chopra
Joined: 11/24/2010 00:15:35
Messages: 24
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It is very difficult to says the recovery time of the economy it is not small affair.
All the globe are under recession period and try to sruvive and its happen only that we think only good things not given a though for worst situtaiton or backup for worst situtation. This is the reason Economy are under pressor and trying to consolidate if we pay our taxes /dues to the government.
Becuase all for one and one for all concept is applicable if we wish to recover the country economy.
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