IT'S NOT AS BAD AS YOU THINK
|Our headline is both the title of the book and the message delivered yesterday to NAIOP by First Trust Advisors' Brian Wesbury. He said he's expecting a V-shaped recovery and anticipating unemployment would dip below 9% by the end of the year.|
|Brian compared the recession and recovery to that of a similar recession in 1907-1908, around the time of the San Francisco earthquake. He says most of the problems were caused by people panicking about how bad the financial situation might get, and once that fear was assuaged (we assume Rice-A-Roni has something to do with it), the economy bounced back. He also said a lot of the current situation is caused by the power struggle associated with mark to market accounting.|
Here are some good ways to distract from a downturn: Opus North's Danny Queenan (NAIOP's new chapter prez) and John Dunneback tell us Opus is working on two improvement projects for new tenant DeVry, and McShane's Molly McShane has a baby due next week!