Nonresidential investment decline really caught us by surprise, huh?

"This is important to follow because residential tends to lead the economy,"

I don't think this is the case for this business cycle because of RE bust. Usually RE is also counted as contra - cycle (defensive investment category, etc)

I'm surprised that the 2001-2006 residential peak didn't look bigger relative to prior booms considering all the cheap money being tossed at home buyers during those years.

And what do you think this predicts? As a senior officer in a diverse real estate development firm, I can tell you that at least in the Northeast, the fundamentals of homebuildings place in this New World Order as decreed by Obama, et al. is being questioned right down to the core. So I think the assumption that residential leads the economy may no longer have the validity we've grown to beleive.

Can you modify the chart to include the contribution to GDP from investment in gold ponies? Back up the truck . . .

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