BI Weekly 5: The housing recovery
Christopher Gerber (CGerber@BoatingIndustry.com)
August 20, 2012
Filed under Weekly 5
Editor’s Note: This is the first edition of the BI Weekly 5 – a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Tuesday on BoatingIndustry.com.
1. The housing recovery
It’s flown under the radar with all of the focus on negative economic news, but we’re well into a housing recovery this summer in the United States. This is important because the housing segment has led us out of every recession since World War II. Without a recovery in housing, most economists don’t expect robust economic growth.
The July housing starts numbers, released last week, showed a 21.5 percent increase from July 2011. For the year, starts are on pace to be up about 20 percent from a year ago. The July home sales numbers come out this week – existing homes on Wednesday and new homes on Thursday. Consensus is that both will be up.
2. High unemployment not permanent, Fed says
A new study from the Federal Reserve Bank of New York shows that, contrary to what some economists have argued, high unemployment is not indicative of a permanent shift in our economy, Bloomberg reports.
That conclusion goes to the heart of a debate pitting economists at banks like UBS Securities LLC and Barclays Plc who say the economy has fundamentally changed against central bankers, including Chairman Ben S. Bernanke, who say the distortions are transitory. A permanent shift would mean policy makers applying additional stimulus risk spurring inflation by driving unemployment down too far too quickly, while a temporary dislocation would indicate more can be done.
3. Invasive species debate heats up
A coalition of lake associations in Minnesota has proposed a system that limits access to lakes and requires inspections of vessels in order to combat the spread of zebra mussels. Lakeshore residents, boaters and fishermen are sharply divided on the issue. Minnesota DNR commissioner Tom Landwehr talks about the controversial plan.
4. The 7 deadly sins of management
Nobody thinks they’re a bad manager, yet we’ve all experienced them. Author and management guru Julian Birkinshaw offers a self-assessment to help figure out if you’re committing one of the “7 deadly sins” of management.
5. 11 Reasons a 23-Year-Old Shouldn't Run Your Social Media
With everything else you have to do these days, it’s tempting to outsource social media to your niece or the sales manager’s son. Social marketing expert Hollis Thomases points out the pitfalls of doing that, most notably they may not understand your business and the image you want to project.