WHAT DOES THE FUTURE LOOK LIKE?
Is the future represented by this image? Or this image?
According to the Spring 2021 edition of the IMF's World Economic Outlook:
1. The Global Economy is projected to expand at a rate of 6% in 2021
2. Bolstered by unprecedented fiscal and monetary stimulus, the USA, China and Western Europe are poised for swift rebound
3. GDP growth in the USA, China and Western Europe are projected to reach 6.4%, 8.4% and 4.5% respectively in 2021.
4. Latin America and the Caribbean (LAC) and Europe and Central Asia (ECA) are projected to grow by 4.4% and 3% respectively.
In New Mexico there is a group of about 50 successful businessmen and women, who meet once a week. Most of them are millionaires and they are from a broad spectrum of industries and businesses.
All of them invest in real estate of all kinds, and some days, in that Thursday meeting, millions, sometimes big numbers trade hands informally, as they study, share and look at the economy. People come in from California,
Arizona, Colorado, Kansas, and Texas just to learn what is happening. So last week I stood up and asked for a show of hands, because I wanted to see what this erudite group of investors sees ahead.
I posed these questions:
1. "By show of hands how many of you think we will be experiencing economic boom and expansion in home sales and general economic trends in 90 days?" 100% raised their hands.
2. "By a show of hands, how many believe this economic boom in housing sales and prices, will continue for 180 days?" 80% raised their hands
3. "By a show of hands how many believe the economy to improve in 300 days?" 40% raised their hands
4. "By a show of hands how many believe that house values and prices will continue to be going up in 360 days? Only 10% raised their hands.
So the idea is that the housing boom is doing better than the general economy.
But the overall economy will slowly improve even as the housing boom will peter out.
The overall mood and projections of these elite thinkers is that things are on the way up, on the way to "better" and that this is a perfect time to invest for future growth and expansion.
We at BBAR Inc. (Commercial Appraisals) have listened carefully to the Fed and agree with the Federal Reserve Chairman, that we are approaching a time of repair and recovery overall.
1. We expect steady economic "rebuilding" first as vaccines reduce the fear of infection, and allow people to "get back in the game'.
2. We expect economic growth based upon suppressed demand, that is unleashed.
3. Then the economy will supported by Federal financial support for the economy.
4. Then gradually as businesses adjust and rebuild "one by one" with good old American "hard work"....to brick by brick bring a "new economy".
We believe that the United States economy of the future, that the nation itself, will emerge as a different place. Hopefully "New and improved". Our kids and grandkids will build and
be the beneficiaries of this new USA. But it will come with a great deal of thinking, planning, innovation, technical and scientific innovation, and the work by hands of American workers.
The Roaring Twenties, followed the Spanish Flu Pandemic that devastated our nation, wiped out towns, and seemed like a "blight" from above.
But then we had the 1930's a bit tight a time of repair. Then the 1940's a 'government spending' heavy wartime economy.
Next the ground breaking expansion, of the 1950's, 1960's and on through the 1990's.
Our nation today must seem like a different world, to those old people who remember the 1918 year of massive epidemic and death. Poverty and hard times.
Times when it seemed that a world war or two had to happen to "snap us out of the darkness".
I believe, and our company believes in the USA, and the future. The prospects of "tomorrow" are of a fantastic new future.
If you share our optimism, call us sometime, let us do our "thing" for you, in commercial appraisals, or feasibility studies, or just brainstorming with you and your people.
or contact Ben Boothe....email@example.com
WE ARE ON YOUR SIDE, AND LOOKING TO THE FUTURE!