Economy 101

| Tuesday, February 15th, 2011 | No Comments »

You know what I think would be cool? To be an economist. If you were an economist who also happened to have a distinguished British accent wouldn’t people automatically assume you are smart? Because that’s exactly what I assumed when I listened to an economist with a distinguished British accent speak at a conference last week. The fact that he said he went to bed and woke up to MSNBC and addressed people as sir and madam also helped with the smart factor. Maybe I should start saying that I wake up and fall asleep to CNN or with the Wall Street Journal in my hand and see if people think I’m smarter. Because as it stands I fall asleep and wake up to Facebook, Words with Friends and my email. Oh and sometimes the Q13 news app. Ok, I promise this post does have a point so here it goes.

The economist that I heard speak last week with the distinguished British accent and the fancy lingo who goes to bed and wakes up to MSNBC said that we are definitely not at rock bottom anymore and things will be improving over the next few years. Specifically, he said real estate agents should be increasing their business by 18% this year! I was THA-RILLED. He also said some other fancy stuff and had graphs and charts but here are some important facts I heard that I thought were interesting.

He said King County will start regaining jobs this year due to the 5 B’s.

  1. Boeing
  2. Bytes (think software)
  3. Biotech
  4. Batteries (think electric cars)
  5. Benefactors (think philanthropy, Medina and lots of resident billionaires!)

He also said that although we won’t hit the pre-recession rates as far as employment goes, there will still be growth. By the way, continued growth and stability means stronger confidence in the market!

And here’s what else people need to consider. Mortgage rates no doubt will increase (next year in 2012 he predicted rates to be around the 6% mark) and home prices will stabilize making now a great time to buy. And you’re in luck…I’m selling homes today!

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