Sell for More News is a weekly blog series with interesting information from the world of commercial real estate.
The US economic expansion (and recovery from the Great Recession) officially made history. The 122 month expansion that started in June 2009 is now the longest ever.
The previous record was set during the 120-month expansion from March 1991 to March 2001. It ended when the dotcom bubble burst.
While the current expansion is a record breaker, it’s also been one of the slowest:
- Gross Domestic Product has grown 25% cumulatively since the start of the expansion, which is lower than other booms on record.
- The unemployment rate sits at 3.6%, its lowest point since 1969. It’s down from a peak of 10% in October 2009, but job growth took much longer during this recovery than during other recoveries postwar.
Now, all eyes are on the clock to see just how long the current expansion can keep going.
There have been mixed signals from the US economy and markets about the likelihood of a recession on the horizon. On one hand, the S&P 500 has soared to new highs.
On the other, trade tensions sparked a panic in the bond market. As investors bought more long-term Treasuries, they shrank the gap between long-dated yields and short-term ones. This triggered a yield-curve inversion, long-watched as a sign that a recession was ahead. Trade tensions have also rocked the global economy and contributed to signs of a slowdown outside the US.
No one knows what will tip our economy into the next recession…or when. Just remember, we’re in the extra innings.
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About Beau Beach, CCIM
Beau is a tenacious Commercial Real Estate Broker, author and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.
Beau leads Beachwood which is a commercial real estate broker for sellers in the Nashville, Milwaukee, South Florida and Chicago markets.
He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.
Beau can be reached at 800-721-3287, click to schedule a call or Beau@ProwessIRES.com