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  • One Step at a Time

    This week we saw something that hadn’t happened in over a year: growth in real GDP. Indeed, real GDP expanded 3.5 percent on an annualized basis during the third quarter, bolstered by consumer spending, business equipment spending, housing construction and exports. In a bit of a statistical quirk...

  • The $14 Trillion Question

    Times like these can test an economist's mettle. Since everyone seems to be interested in hearing the answer to one question, namely "Is the recession over?", it helps when you can give with some degree of confidence a reply of yes (or no). Moving from recession to recovery is not a process...

  • The Next Shoe to Drop

    So far the big news in real estate remains the depression-esque performance of the housing market. And with good reason, since the plunge in housing prices and surge in foreclosures has precipitated much of the economic mess we are now in. However, the commercial side of the real estate market is emerging...
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