As we all know, there are cyclical patterns that occur throughout all sectors of our economy. Understanding the macro level of these cycles is a very relevant aspect of our business as real estate entrepreneurs. Each cycle has its own implications on how we implement our real estate investing strategies. However, what is different about this current economic downturn vs. historical downturns, in particularly and most recently, the global financial crisis of 2007-2009? How is it impacting our business as real estate entrepreneurs?
Our guest on today’s episode is Elliot Eisenberg, Ph.D., Public Speaker and Chief Economist for GraphsandLaughs. Elliot has an economic consultancy that serves a variety of clients across the United States and writes a daily economic commentary on Econ70.com. Join us as he shares his reflections on the stock market crash, the severity of US unemployment, how the increase in coronavirus cases is impacting our economy, and how long it will take us to get back to the GDP we had prior the pandemic. Elliot also breaks down the ways in which the recession is affecting the real estate industry, noting insights into demographics and interest rates, as well as the disparity between buyers’ and sellers’ positions.
In this episode, we cover:
Where are we in the credit cycle, the corporate cycle, and unemployment?
How does our economic position differ from where we were at pre-covid?
What does our employment situation look like relative to history?
From an economic standpoint, what does it mean to be in a recession?
What impact will the 2020 election have on our economic recovery?
How does the insurmountable national debt impact us long-term and how do we plan for that?
What are “zombie firms”?
Understanding these economic cycles and monetary policies have a direct correlation with our ability to scale our real estate portfolios. Elliot addresses each of these pressing questions and so much more in this knowledge-packed episode!
About Elliot’s Consulting Service:
Elliot: “I’m a public speaker generally but now I’m a Zoominar speaker. I give speeches, talk about economics and make it fun, memorable, and easy to understand. The way I promote myself is putting out a daily 70-word blog that talks about what’s going on in the world of economics today and what’s important. You can get it by going to our website or you can sign up for it on your happy cell phone by texting the word BOWTIE to 22828!
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