On January 30 the Obama administration reported that the federal stimulus package had saved 600,000 jobs in the final three months of 2009, according to a Feb. 1 Washington Post report.

In addition, the economy actually grew by more than 5% during those same three months.

But while any jobs saved is a good thing, the fact is that the combined unemployment and underemployment rates in the U.S. range from more than 17% to more than 40% in some states. (more…)

In January of 2010 the federal government reported that the U.S. economy had grown by 5.7% in the last quarter of 2009, and the Wall Street Journal reports that the economy is expected to keep growing in the low single digits through 2112.

It seems that the economic plunge has opened a parachute at least. However, growth in the gross domestic product (GDP) is just one indicator of the health or illness of our economy. Credit.com, for example, put out an article at the end of January 2010 reporting that 3 million more homeowners are expected to face foreclosure in 2010 – up from the more than 2 million who endured that nightmare in 2009.  (more…)

Question: What loses $3.6 billion in value over three years?

 Answer: Stuyvesant Town, the largest commercial real estate deal in history.

 After roughly three years, problems with raising rents and dealing with the Great Recession, the people who put together the Stuy Town real estate deal have handed the keys back to the bank.

 One wonders if the developers will be getting any calls from collection agents. Not to mention how the development’s tenants are fairing.

 But is the Stuy Town debacle any indication of the overall health of the commercial real estate market in the US?

 Perhaps. (more…)

They say the recovery has begun. Before you start post recession celebrating however, you had better take a long, hard look at what’s going on.

According to a recent article in the Wall Street Journal blog “Real Time Economics,” the country’s gaping 10% unemployment figure is going to take much longer to rebound. 

This is because companies need to see more steady cash in hand before they feel comfortable beginning to hire again. But there’s another dynamic as well.

(more…)