The stock market sell off that is occurring now has finally killed a few BUY side contracts at two of my local Fort Myers, Fl companies; Security Title & Abstract and Right Choice Realty. For this reason I thought I would write this piece. Afterall, people tend to get nervous when their 401k's get crushed by 20%+ in 60 days.
Did you know that since the great depression we've had a national recession on average every five years? A recession is defined as (2) quarters of negative growth in a row. It's been SEVEN years since our last recession and we are likely due, sorta. The reason I say "sort of" is that the magnitude of our last recession A.K.A. "The Great Recession" was so pervasive and pronounced that it's not really that surprising to me that it took longer than usual to have the next one.
Think of it like a forest fire that burns away all the waste, dry underbrush, and dead wood out. Based on the "completeness" of our last burn, again, I'm not surprised it took a little longer to get here. There simply isn't enough FUEL left over from the first dowturn for another BIG BURN or at least it seems as far as Fort Myers area is concerned. As a matter of fact, there's no guarantee that our economy IS going to end up in recession this year, although the odds have improved. I would say 50/50 right now so flip a coin.
So how do you spell recession? I spell it: f-o-r-c-e-d-v-a-c-a-t-i-o-n
Jack Solloway, Founder & President
Right Choice Realty
Security Title & Abstract
SW Florida Dream Homes