AcCORDING TO 3 REPORTS, IT MAY JUST BE BETTER IN 2011

At the end of 2010, already becoming a distant memory, were some confounding signs in the economy.  As the holidays continued, retail and durable spending was up, but how could that be in our sputtering economy?  Although the recession had supposedly officially ended, most economists agreed that recovery would be very sluggish until 2012.  At the heart of that disposition was the issue of jobs.  Where were the jobs?  Well, out on December 31st were the three reports by Chapman University, Cal State Fullerton, and UCLA, weighing in on jobs, unemployment, income growth, building permits, US GDP, and 10-year treasury.  All reports on all fronts were positive, with the most anemic growth coming in the builder sector, with very slight growth on building permits.  All three see job growth between 18,000 and 24,000 but with most improvement coming in the second half of the year.  They all see unemployment plunging below that 9% mark that has plagued any serious recovery.  Income growth will rise between 3.6% and 4.8%.  UCLA's report had an interesting comment, "Accelerating economic conditions should be observed by mid-2011 as consumers increase their spending to reload on worn-out durable goods and businesses hire more workers to meet rising demand for goods and services.  The outlook for an expansion of the workforce shows momentum building into 2012.  While the public sector remains weak, the private sector will do all the heavy lifting regarding 2011."  The gist would seem to be, expect gradual improvement, and yes, the recovery has really begun this time.  How does all this effect real estate?