Internationally recognized economist Adrian Fleissig, Ph.D. painted a fairly positive picture for 2018’s U.S. economic growth at the Annual Economic Forecast Luncheon hosted by the Risk Management Association’s Orange County Chapter. Held at The Pacific Club in Newport Beach, CA, PCV Murcor attended the event along with other risk management professionals from all facets of the lending industry.
Dr. Fleissig discussed how growth in spending on high priced items (e.g. vehicles, computers) is pushing the U.S. economy forward. As the Job Market expands, this further contributes to the progression of the 2018 U.S. economic growth. Wages and benefits growth are relatively stagnant. And, both consumer debt and consumer confidence are reaching all-time highs.
On the real estate front, demand for residential and commercial investment is increasing. Rising interest rates should not negatively affect mortgage demand, as the strong economy and reduced tax rates will drive expansion in the number of businesses looking for commercial space and the number of prospective homeowners who can afford a down payment.
Increased government spending, particularly on our national transportation infrastructure, will further boost the 2018 U.S. economic growth.
Despite large trade deficits, imports and exports are steadily increasing.The only down note in Dr. Fleissig’s presentation was the recognition that the costs of housing, healthcare and education are going through the roof. Despite the Federal Reserve’s assessment that we are experiencing nominal inflation.
When asked what if anything could steer our nation off of this prosperous course, Dr. Fleissig answered simply, “a war.”
Are you a mortgage lender poised for growth in this economy?
Are your valuations operations ready to support your spring 2018 volume?
Do you have 2017 audit findings that you need to remedy this year?
Contact us today and find out how PCV Murcor can help!