This is awesome news! This sector has continued to strengthen and really come back strong. I think some of the negative news about China and Brazil has helped our manufacturing sectors a lot. With more money in the economy it is flowing to these areas more than it has in years. All are signs of a more stable recovery. If this can keep moving forward and interest rates stay relatively low the economy will have a fighting chance. For Floridians more than the rest of the nation, our livelihoods depend more on the housing market recovery than any other factor. Something else is important to note.
With the gains in the stock market, the retirees are spending more. While there is no official economic indicator of exactly what the impact of this is, I am certain it is significant. And we know that more people are retiring now than ever before and many of them will end up in sunny Florida. If we can ever get the port expansion done, growth here could explode. Already the gateway to Latin America, this will further boost international traffic to the whole region. The direction that we are heading in is right on target but we need to guard for the unexpected. But that cuts both ways. Can you imagine if we decide to pull out of Afghanistan? That is potentially billions of dollars that could be allocated elsewhere. If it could happen in Iraq it can happen there and we will know very soon. My views have shifted on this over time from it would be crazy to pull out to it would be crazy not to pull out. Places and people can change, but it is very difficult and really impossible if they don’t want to. I think if the U.S. looked at the situation in those incredibly simple terms we would already be gone.
Expectations are rising for a stronger U.S. economy in manufacturing and construction spending.
Orin Rosenfeld
President
Rosenfeld Realty Advisors
9858 Glades Rd. Suite 209
Boca Raton, FL 33434
Phone: 561-756-1665
Fax: 561-470-0707
No comments:
Post a Comment