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Economist Gives Hope for the Future
“For the time being the worst is behind us,” said William
Greiner, executive vice president, chief investment officer and manager
of UMB’s Trust Investment Division, in opening his opening comments to
members of the American Architectural Manufacturers Association. Greiner
spoke in June during the group’s conference in Minneapolis.
“If you have another meeting at this time next year, you’ll be in a much
better mood,” he added.
Specific to the housing market, Greiner said that although housing prices
and interest rates are low, sales haven’t gained traction yet. Greiner
said this is beginning to happen, though.
“Inventory is nowhere near where it was,” he said. “New home inventory
levels are starting to correct as well. A year from now you will see significant
improvement.”
“Next year when unemployment stabilizes people will start to look at buying
homes,” he added.
Further good news for the future is that Greiner said data shows we will
see an end to the recession in the next six months.
But Greiner wasn’t as positive about our national debt.
“We haven’t been in this position since Word War II,” he said. “We’re
approaching our problem with debt by getting into more debt and I’m very
uncomfortable with this.”
Greiner says there is another way out of this and this is through non-inflationary
economic growth. To that end, he said there are a few things to look out
for in the next three to four years.
“We can’t shrink our workforce. We’ve got to keep people working,” he
said.
He also said employees need to work smarter and more efficiently.
New Privately
Owned Housing Units Started in 2009
(in thousands of units) |
| |
U.S. Total
|
Northeast
|
Midwest
|
Southwest
|
West
|
| January |
488
|
38
|
58
|
254
|
138
|
| February |
574
|
62
|
93
|
306
|
113
|
| March |
525
|
72
|
98
|
275
|
80
|
| April |
458
|
50
|
77
|
217
|
114
|
Source: U.S. Commerce Department
| VALUE
OF IMPORTS TO UNITED STATES |
|
Feb. ’09 |
March. ’09 |
Difference |
Finished Products (in
units)
|
|
|
|
| Plastic windows and their frames |
109,246,179,855 |
120,979,889,021 |
+10.74 |
| Doors and their frames, wood |
34,595,890 |
30,539,226 |
+13.3 |
| Aluminum windows and their frames |
16,210,536 |
15,880,129 |
+2.1 |
Iron windows or steel
and their frames, not stainless |
2,871,950 |
2,825,564 |
+1.6 |
Wood windows, French
windows and frames |
9,982,230 |
9,582,958 |
+4.2 |
| Materials (in
units) |
|
|
|
| Cast and rolled glass |
5,238,602 |
3,845,232 |
+36.2 |
| Float glass |
6,213,501 |
7,642,794 |
-18.7 |
| Laminated safety glass |
5,967,071 |
4,323,447 |
+38.0 |
| Insulating glass units |
10,454,985 |
8,437,589 |
+23.9 |
| Wood and articles of wood |
768,778,342 |
694,257,165 |
+10.7 |
Source: U.S. Commerce Department
| VALUE
OF EXPORTS TO UNITED STATES |
|
Feb. ’09 |
March. ’09 |
Difference |
| Finished Products (in
units) |
|
|
|
Plastic windows, frames and
thresholds for doors |
4,482,560 |
6,067,973 |
+35.4 |
Wood windows, French
windows and their frames |
4,046,667 |
4,257,702 |
+5.2 |
| Doors and their frames, wood |
9,258,257 |
9,841,526 |
+6.3 |
| Materials (in
units) |
|
|
|
| Cast and rolled glass |
5,853,231 |
2,226,113 |
-62.0 |
| Float glass |
33,307,854 |
39,852,151 |
+19.7 |
| Laminated safety glass |
4,112,587 |
4,226,181 |
+2.8 |
| Insulating glass units |
6,446,810 |
7,100,821 |
+10.1 |
| Articles of glass |
6,268,157 |
5,200,216 |
-17.0 |
| Articles of wood |
419,179,503 |
454,841,025 |
+8.5 |
| Continuously shaped wood |
17,557,682 |
18,292,585 |
+4.2 |
Source: U.S. Commerce Department
"A year from now you
will see significant improvement."
—William Greiner
DWM
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No reproduction of any type without expressed written permission.
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