Real Estate Outlook: Modest Recovery
by Kenneth R. Harney
August 16, 2010
www.realtytimes.com

The Federal Reserve's board of governors gave their current economic forecast a label last week: The label is "modest" - and it's an important word to keep it in mind.

Yes, we're still in recovery mode, the Fed governors said, but it's a slow slog, and on any given day the news can sound discouraging.

Yes, the gross domestic product, or GDP, is still growing, and many corporations are sitting on big wads of cash, which is good.

But those same companies are not yet confident enough in the pace of the economic recovery to start hiring again … and that's not good.

It all adds up, according to the Fed, to a mixed picture of where we are on the long pathway out of the Great Recession. More...