Possible precursor signs of impending recession
Every business day I get several editions of the business news from the San Francisco Business Times. Here are the headlines from this morning’s edition, June 2, 2022:
Why shares in this tech titan’s AI company have dropped 17% in 17 months; East Bay migraine patch developer files for bankruptcy; Gene therapy company abandons East Bay manufacturing plans. Now, perhaps this afternoon’s news will be full of positive announcements, but after 45 years of my news addiction and thinking about what it might mean to the bigger picture, this comes against a backdrop of 8% inflation, gas prices here in Northern California approaching $7/gallon, Nasdaq down 29% in 2022 and I wonder, where are the positive signs that we will be doing great over the next year or two? Yes, I have a number of clients with tons of money seeking properties that have been almost impossible to find (owner/user flex or industrial buildings for sale North I-680 Corridor are non-existent), office tenants are getting incredible concession-filled lease deals, but still..I’m hoping I am wrong, or at the least if we do head into a recession it will be a soft landing…what do you think?
