Top economists say recovery has begun

Market Recovery

Top economists say recovery has begun
NEW YORK -  2009 – Economic recovery is about making people feel more confident, says Mark Zandi, chief economist of Moody’s Economy.com, and Zandi pointed to increasing home sales and gains in the stock market as promising signs that the worst is over and that people will start spending again.
“We’re starting to see some pent-up demand for goods,” he says.
But Zandi warns that the situation is still fragile. “Confidence is a very fickle thing. It can go from abject pessimism that pervades now to a more balanced view of the world rather quickly.”
Robert Brusca of FAO Economics is predicting strong growth in the last half of the year and a quick recovery for the labor market. “You’ve lost 5 million jobs. It shouldn’t be hard to put 2.5 million jobs back on rather quickly after you hit bottom,” he said.
Joseph Carson, chief economist at AllianceBernstein, calls improving home sales, a rising stock market, and better-than-expected retail sales in April and May good signs of a turnaround. By the time President Obama’s stimulus package takes effect, the economy will be ready, he says.
“The stimulus has a much better chance of working if trends are already turning up than if it needs to halt a decline,” he said.
South Florida Realtors report a 5 Month increase in sales as high as 35% over last years sales records. These figures just released by The Commerce Department and the recent 5 month sales figures reported by The Realtors Association of Florida are proof that South Florida is a very popular place for investors to buy.
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