You have to be extremely careful of coming across as misrepresenting the facts to serve your own interest. So when we’ve been talking about controlling the narrative, what we really mean is correcting a false media narrative. Let me say it to you again: correcting a false media narrative, one that’s been sensationalized in the name of website clicks and additional eyeballs watching the television or online.
Moving forward, we’re not going to advise you to control the narrative any longer. What you really need to do is reclaim the narrative. You’re not spinning anything, what you’re doing is simply providing, in your market, a great service, by correcting the misinformed media hype and bringing it back to the truth about what’s going on in your town. Think about that, and let me know your thoughts.
Steve and I both believe that the word “reclaim” better represents your role as the knowledge broker for your community, delivering insights home owners need to make the best decisions for their future.
Which brings us to the real topic I wanted to discuss today, which is reclaiming the narrative, and setting the record straight about the economic forecasts. There was a lot of chatter not that long ago about the R-word, remember? Recession! But now, guess what we’re seeing? A lot of economists are pulling back on those projections lately. They’re not necessarily saying it won’t happen, but they’re pushing back their timelines.
And remember, even if a recession does happen, only once in the last five recessions, was housing significantly impacted. In fact, housing prices actually increased during three of the five. Something to think about.
Let’s take a look at some of the revised projections from these major economists. Anthony Chan acknowledges a slow-down, but doesn’t foresee a recession any time this year or next. Then we take a look at what Dean Baker has to say. He agrees, saying he sees the US economy slowing, but points out there’s a positive happening that will prevent us from dipping into a recession. Then there’s Lisa Shalett, who is the chief investment officer for wealth management at Morgan Stanley… She says the housing market is actually improving, that bank lending is on the rebound, oil prices are high, and the credit markets are humming along, all of which spells out stability in the US economy.