How is the economy comin' along? I'm not an economist, but as a mortgage professional I would be doing my clients a disservice if I didnt pay attention to trends. Of course every "expert" seems to have a different opinion and depending on what news you want to hear all you have to do is change channels. CNN...recession is over. Fox News...Double Dip recession bordering on depression. Good to know everyone is on the same page.
Last weekend, however, I personally witnessed a disturbing trend that makes me firmly believe that the worst is NOT behind us! That's right, I was given free tickets to my first NASCAR race! Bristol Motor Speedway in Bristol, TN. That's a big one. People come from everywhere, you cant find a hotel vacancy as far out as Chattanooga. At one point in time the only ticket harder to get than Bristol...the Super Bowl.
Well...not any more. As I looked out the window of my luxury box(yeah, that's how I roll. The Crowne Royal suite, I might add...really how I roll ), I looked out on the famous speedway and empty seat after empty seat. If I had to guess it was less than half full. The campground we stayed at less than a mile from the race...empty.
Now, I think it's safe to say that the NASCAR fan of Tennessee is a pretty good slice of the working class, middle America, pie chart. And when times are good, those fans dont leave a stadium half full.
So...I'll continue to watch trends. I'll pay attention to Japan, Libya, oil and gold. I'll look at the overall effect that the world economy has on US stocks and bonds and I will continue to keep my clients informed to the best of my ability. But if you really want the truth...go to Bristol next year. If it's full...the recession is over.
Have a great weekend my friends!