News
NOT SO DOOM-Y
June 8, 2011
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| We got to hang upon every word from by Roubini Global Economics founder and NYU professor of economics Nouriel Roubini, dubbed Dr. Doom by New York Times Magazine, as he keynoted yesterday at REITWeek, where over 1,000 investors crowded the Waldorf-Astoria in NYC. Nouriel's outlook was only doom-ish. Yes, there's the crisis in the Middle East, Japanese earthquake, commodity prices, and an unsustainable deficit. But the market has been resilient despite several shocks to the global economy, and there are things going our way: a global economic recovery, lowered risk, corporate balance sheets in better shape, an improving CRE market, and long-term growth prospects in emerging markets. There have been talks of a global economic slowdown, but optimists are saying it's just a soft patch. Potential rough spots: painful deleveraging in the public and private sectors, unemployment, government debt, the periphery of the euro zone, and loss of competiveness in the US. |
