Tuesday, July 24, 2012

Be prepared, Congress needs to take Action...

I read this article to my office today, Congress can make a difference,
This Economist is right on target just about everytime...

"COLLEGE STATION (Real Estate Center) July 2012 – Not only does Real Estate Center Chief Economist Mark Dotzour see a fiscal cliff in America's future, he knows when the economy will plunge over it.
 In a podcast Friday with CCIM, Dotzour said Jan. 1, 2013, is the day "bad economic events" will be triggered with negative impact on the U.S. economy. These include higher income, capital gains, dividend and estate tax rates. The first day of the new year also marks the end of certain payroll tax deductions and the beginning of cuts in government spending.
 Dotzour said that unless Congress takes action to alter the nation's economic course, he expects the country to fall into recession in the first half of 2013.
 For commercial real estate, that means most economic activity will occur before Labor Day. He expects U.S. growth to be "very quiet" as 2012 comes to an end."

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