The "Not-So Great Recovery"

A recent article points out that our country's "Great Recovery" hasn't, in fact, been so great. In fact, it hasn't even been good. Here's the article:

http://hosted.ap.org/dynamic/stories/U/US_ECONOMIC_FORECAST?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-06-05-09-31-43

Here's the pull-quote:

"It's not a recovery. It's not even normal growth. It's bad."

As a real-estate investor, I look at both the macro-view and the micro-view. Both "How is the economy doing in the nation as a whole?" and "How is the market in the areas that we're investing?" There is a point at which the economic conditions of the country affect local markets regardless of the health of the local market. 

Right now, the economy of the country is not healthy. Certain economies of specific areas are healthier. Overall, though, I believe that we will continue to see opportunities to buy houses at deep discounts as people struggle with insufficient income and employment.

So, yes, real estate is local. But there are economic conditions that are strong enough to impact most local markets. Be sure and pay attention to both the big and the little picture!

What are your thoughts? Let me know!

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