This week’s perspective is provided by Jim O’Connell:
POLITICS AS USUAL
Living in Ohio, it was my turn this week to vote in the primaries and with that be a part of Super Tuesday. And as the pundits crowd their way onto television screens to unravel who won, who lost and boldly tell us all what we are to think about the politicians and what will happen come November, I couldn’t help but think about how this upcoming election is going to affect our commercial real estate market for the balance of 2012.
First, I think that economic conditions, whatever they are, are going to press heavily on how these upcoming campaigns are run. How is Obama going to fight back if the economy languishes and gas prices escalate past the $4.00 a gallon mark and hit $5.00 like some predict? What kind of promises are we going to get from the Republican challenger to reduce unemployment, create more jobs and lower tax burdens for everyone, not just the poor? And what are both sides going to say about foreign relations and how we handle the global economic fears that have a meaningful impact on our stock markets and interest rates?
Well, I don’t know if I have answers to any of these questions but one thing I do hold out high hopes for is that is the rest of 2012 should get plenty of help being a good year, especially with regard to the economy because the candidates running for office are going to want to take credit for an economy that is growing with prosperity, not one that is struggling to improve.