October 26th, 2012 10:13 AM by Eric Fang
The US economy has almost lost 10 years.At least the stock market is about 10 year ago level and the real estate house price is about thesame level as 2012.
But when we have the GDP of 2%, the media seems happy about it. Just because it's better than 1.8% as expected? People is alos happy about theunemployment rate, just because it's lower than 8%?
GDP hrowth of 2% is nothing. I believe the inflationrate is over 2%. So there is no growth at all. And in orderto bring the US economy back to recovery we should seethe GDP growth of 4.5% or more.
With so many companies have "disappointed" earnings,we will have another tough year for the us economy. And it was projected that the 2nd half of 2013 will bebetter, and we heard every year for the past 4 years.
One news from MBA(Mortgage Banker Association, not thedegree), the loan origination volume will see steadilygrowth in 2013 & 2014. For 1st half of 2013, the volumeis from the refinance; for 2nd half of 2013 & 2014,the volume is from the purchase. And one thing is "certain",the rate will go up 2nd half of next year.
Hope MBA is right this time.