2009 Outlook

January 19, 2009

We are all anxiously awaiting President Obama’s inaugural speech. He has been one of the most vocal and active President-Elects I have ever seen, so I think we all know what he is going to say. He has already put together a stimulus package to try to get the economy and the banking industry back on track.

As most of you have probably heard already, Bank of America received yet more money from the federal government and Citibank has split into two companies. The thing that disturbs me most is that the banks are taking money from the government while at the same time reducing or cancelling people’s credit lines and giving much less money in the way of loans and credit. The banks are basically taking money from every possible angle and not giving any in return which is what they were supposed to do to stimulate the economy. Right now, the banks are the ones holding everything up.

One the positive side, once the banks get their house in order, they will begin doing what they are meant to do - lend money. We are still getting money for our clients, but the process has become a bit more difficult and more strategy is needed. We can see the light at the end of the tunnel. What we recommend now is to start planning and preparing now, so you will be in a good position for when the market turns around.

There are still many opportunities out there for people who have the money. We have billions of dollars of investment projects in real estate and green technology just waiting to be funded. If you are interested in real estate or green tech, give us a call and find out more.

Written by billshuttic · Filed Under Bill's Articles