Group forecasts GDP up 2.6 percent this year, down from May prediction of 3.2 percent...
"Consumer caution, high unemployment and slow growth in household wealth will slow U.S. economic growth through next year, according to a survey by the National Association of Business Economics.The 46 economists in the association's quarterly survey forecast growth in real GDP of 2.6 percent this year, down from their May prediction of 3.2 percent. The economists predict GDP will accelerate gradually through 2011 but remain "moderate" next year."This summer's slowdown has exposed the economy's sensitivity to wealth losses, the unwinding of debt, and the reductions in economic stimulus," said NABE President-elect Richard Wobbekind, associate dean of the Leeds School of Business at the University of Colorado-Boulder. "Confidence in the expansion's durability is intact, but recent economic weakness has prompted many panelists to scale back expectations for the year ahead."..."
Jacob Gaffney is the Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s). At HousingWire, he began focusing his journalism on all aspects of the housing and mortgage markets.
The first thing you notice about New American Funding's Rick and Patty Arvielo is how much they like each other. That might seem like a foregone conclusion when you meet a married couple, but when that couple also runs an incredibly successful business together, I imagine it could get complicated. Read on to find out more about how this successful couple manages their life, and business, together.
For the first time since 1981, our industry is experiencing a rising interest rate environment. Some people may assume that the current market shift means their business will take a downward turn from which they will never recover. I don’t buy it. The way I see it, challenging times force us to refine our processes and practices.