Michael Mehl

We are officially Macondo.

A recent report published by Forbes, concluded that San Antonio is in effect, the second most recession-proof city in the United States, right behind the gangbuster bastion of enterprise and compelling travel destination that is Oklahoma City. On the one hand it is good to know that we are close to the top of the list in something other than obesity rates, yet on the other hand we lag behind in the Lame category, not even lame enough to be the lamest in the country.

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As an asset class, stocks are long overdue for a comeback.

Yes there was a very good five-year run that started in 2002, when the smart money went in after the dot.com bubble bust. But in general terms, the real money was not being made in stocks per-se. The fortunes were made speculating in securitized real estate derivatives.

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Don’t get me wrong, we’re capitalists here. Myself, unabashedly so.  

Without a doubt, we are enjoying a vitalizing economic upswing unique to San Antonio’s history. We are also, without a doubt, at the peak of that upswing, with many upstanding citizens reaping substantial benefits, not the least those toiling at the trigger end of the real estate business, namely agents and brokers.

These are the best of times, or so some say. But peaks are defined as much by their rise as by their drop. And some folks just don’t learn.
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