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Time to Call it a Recession?

Pundits from all quarters of the real estate community are weighing in on whether and when the US economy will enter recession.

By Erika Morphy | Updated on February 18, 2008

(Editor’s note: Readers may click on the below links to view GlobeSt.com stories that discuss the recession question) Is it or isn’t it? Fears have been growing ever since the credit crunch hit the housing market in August that the economy would move into recession as a result. The most sobering assessments have come in the past six weeks or so — albeit there are still some analysts who believe we may avoid at least the technical definition of recession.

GlobeSt.com has been covering the issue from the perspective of the real estate industry. Even through that prism, though, opinions still vary about impact and duration. For analysts at Global Insight, the recession is a done deal—all that is left is for it to become official. The only question is whether it will be a mild or severe one. Right now, they are banking on a mild slowdown. (http://www.globest.com/news/1092_1092/washington/168219-1.html).

At a New York City event — law firm Morrison & Foerster LLP’s fourth real estate investing seminar – participants were equally gloomy about the next six months (http://www.globest.com/news/1083_1083/newyork/167850-1.html). One comment from Martin Cicco, formerly of Merrill Lynch, “People are questioning cash flows in every asset class. There’s a real concern of a recession.”

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