Thursday, July 2, 2009

Looking at economic indicators in Mercer County, NJ

Earlier this week the Trenton Times reported on commercial vacancies and how they are an indicator that the economic recovery may not be as fast coming as we hoped. On the flip side, Paul Krugman, Nobel Prize winning economist and columnist for the New York Times reported today that even though more jobs were shed by US businesses in June, we are on the way to a jobless recovery. What? How is it possible that we can be doing both?

I think this is just an example of how economic indicators can be interpreted differently by different people. Kiplinger Reports gives a very straightforward message on how to read economic indicators in this online post that is updated frequently with current information. It charts the standards: consumer confidence, durable goods, existing home sales, interest rate spread, jobless claims and retail sales and help you make your own interpretations from understanding our history of what happened next when the economy was doing this. Economists use intricate models to make their predictions. Others have some common-sense ways. Such as:
  • Movie theaters: Movies are fairly affordable entertainment. A packed house means that people are on a budget. Shorter lines at the theaters means that people are spending their money on other forms of entertainment.
  • Dry cleaners: If the dry cleaners looks full, it might be that fewer people can afford to pick up their belongings.
  • Look at your eyes: Are they droopy? In hard financial times, people tend to get less sleep because of worrying. If the eyes look rested, we may have turned the corner.

Do you have a common-sense indicator? The indicator that I trust is the number of people that I speak to every day that have a plan for moving forward, moving up, and moving on with their lives. They are both selling and buying primary residences in Hamilton, Trenton and beyond. They are looking for and finding the path to happiness right here in Mercer County. They are excited and involved in making New Jersey home.

I would be honored to help you find your joy. Please give me a call at 609-658-2612 to discuss how home ownership can increase your happiness.

Credit: Quirky Economic indicators were provided by Kiplinger.com. See more here.

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