Commentary

Mark J. Riedy

Riedy is executive director emeritus of the Burnham-Moores Center for Real Estate at the University of San Diego.

Commentary

For the first 17 years of my life I lived in Naperville, Ill., a town so small —about 5,000 people in the late 1940’s — that our two-party home telephone number was 14. Answering an on-line security question today about your first phone number simply does not compute when the entire number is 14!

Historically, America’s residential housing start and building permit data were reliable indicators of future economic activity at the national level. The pace of housing production had a major impact on the overall economy because the value of new construction and the incomes generated by that industry were large relative to the overall economy.

Creating a Family Business Council is the best idea I have had since retiring Jan. 15 from USD’s Burnham-Moores Center for Real Estate. I recommend the concept highly for senior business executives and retirees with adult children.

I would like to live in an idealized community where all parties come together to evaluate important public issues against a commonly accepted set of overarching goals and priorities. Instead, I live in San Diego. I would not trade living here for anywhere else in the world, but there is a price to pay for the privilege.

Instincts tell me that despite recent Federal Reserve "jawboning," a significant shift toward monetary policy restraint will not be justified by inflation or economic prospects before mid-2016. Further, a major move toward higher interest rates will not be implemented until after the November 2016 elections.

Imagine flying into Lindbergh Field at night and seeing out the left-side windows all the major high-rises with rooftop spotlights shining on large American flags waving their welcome to visitors and returning San Diegans. On the right, the building housing the iconic Bertrand at Mr. A’s proudly displays an equally impressive flag properly lit up in the night sky.

I read an article recently about the University of San Diego’s highly successful men’s tennis team. Speaking about the need to keep his charges focused, team coach Brett Masi was quoted as saying, “I stay on them. As hard as it is to win, it’s a lot easier to lose if you have the wrong mentality.”

Keeping the Chargers in San Diego is a worthy goal and one of today’s hottest topics. The Chargers are not being unreasonable to want a new home in San Diego.

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