Podcast: | Download

Podcast:  Colleen Edwards interviews John Burns, Real Estate Economist

In today’s podcast, real estate analyst and economist John Burns gives big kudos to the government’s recovery plan, especially as it relates to stabilizing the banking industry.  He thinks that the United States is in a position to lead the world toward recovery, and goes so far as to say that as our banking situation improves, more investment money will come back to the US, attracted by the comparative safety of our system.

John is cautious about predicting such a strong economic leadership role for California, though.  The state was already on the verge of bankruptcy before the current financial and real estate crises hit, and those problems have not yet been resolved.  So don’t count on California as the first state to enjoy some stabilization.

He does give big points to California’s “phenomenal entrepreneurial endeavors”, and expects to see enormous advances in biotech and more new ideas and products from the Silicon Valley.  It’s an odd picture:  a state that is not seen as being friendly to business is also the home to some of the most creative, brilliant new business minds in the country.  We will be watching to see what impact California’s new, serial entrepreneurs have on the timing of the state’s recovery.