September has come again, and most folks are back from vacation. Kids are back in school. Traffic (in most locales) has returned to its usual nightmarish levels. Many of us are asking ourselves “where did the summer go?”
Well, summer is not the only thing that has ended. The world-wide economic recession is also essentially over. Led by countries such as Brazil, India, and, in particular, China, the economies of the world are digging themselves out of that recessionary ditch. Many other countries appear ready to emerge from the economic doldrums just as strongly. Poland, Chile, Mexico, Turkey, South Africa, and Vietnam could all re-emerge with stronger economies in 2010. Let’s hope that as these and other countries travel the upward road to recovery their leaders and policymakers face up to global challenges and opportunities that stem from laying down the necessary institutional reforms that respect private property rights and the transfer of properties.
The U.S. economy, also, appears positioned to start that upward climb to recovery, and those improving foreign economies are also helping to pull the U.S. economy out of its recession as well. Healthier foreign economies mean increased exports from the U.S. Indeed, the net export picture in the U.S. has improved notably this year.
To read the entire article By Lawrence Yun, Chief Economist, NAR Research
http://www.realtor.org/research/reinsights/economistcommentary
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