Year of the Ground Hog

Year of the Ground Hog This is my wrap-up column for 2011 and what a year it has been. Last year at this time Real Estate investors were nestled all snug in their beds, while visions of sugar-plums and a robust recovery danced in their heads. Alas, 2011 turned out to be the Year of the Ground Hog. According to folklore, if it is cloudy when a groundhog emerges from its burrow, it will leave the burrow, signifying that winter-like weather will soon end. If it is sunny, the groundhog will see its shadow and retreat back into its burrow, and the winter weather will continue for six more weeks. The real estate ground hog left its burrow on Wall Street last February, saw a very long shadow, and went back to sleep. He/she was right on. 2011 has been a very choppy and difficult business environment with fits and starts. So here we are wondering what the New Year will bring. As we approach 2012, the ground hog is still in a deep slumber, and we are looking forward to its return in February for his/her call on 2012. I’d rather not wait for the ground hog so, next Tuesday I will provide my prognosis for the New Year. In the meantime, best wishes all for a wonderful holiday, and a healthy and happy New Year!.