EVERYWHERE in the world, from the Middle East to Manila, economists, loan providers, outsourced companies and real estate investors are currently watching whether the United States will be going into a recession or not. They, especially the outsourced companies whose clients are mostly from the United States, will surely take the toll once the dreaded recession happens. But the Federal Reserve under the leadership of Ben Bernanke has carefully treaded and steered the economy of the country under wraps of stability.

The Federal Reserve, an independent government body, has received much help from the Bush administration. During his last State of the Union Address, President Bush has announced to boost reforms into the beleaguered Fannie Mae. A punchline to Sallie Mae which is the nation’s biggest private student loans provider, Fannie Mae which stands for Federal National Mortgage Association is the government’s housing loans provider. Amidst the credit and mortgage crunch in 2007, Fannie Mae is beleaguered with an internal accounting scandal because executives of this state-owned enterprise have siphoned off humongous bonuses during the early part of the Bush administration. This announcement by President Bush to reform Fannie Mae has really gained applause and admiration by real estate investors not just in the United States but all over the world.

Take note that despite the United States being currently threatened with recession, real estate developments are in full swing elsewhere from Valencia City in Spain to Cagayan de Oro City in Mindanao, the Philippines. In the United States itself, private real estate investors such as AMB Property Corporation remain bullish. For its earnings in the last quarter of 2007 alone, AMB Property Corporation has reported an increase of 18 percent as compared to its revenues in the same period of 2006. Remember that AMB Property Corporation is present not just in the United States but in such areas as India, northern Europe and Thailand. Its United States competitor, Boston Properties, has an increase of $34.8 million in sales from 2006 to 2007. As this develops, corporate financial analyst Moody’s has upgraded the rating of another properties firm – Thomas Properties – from developing to positive. Those only show that the mortgage crisis in 2007 is just a state of mind. If all stockholders in the United States can work together and keep their stocks instead of bailing out on them, then the whole economy will definitely hold.

Even New Yorkers are resilient. They are now planning another skyscraper at Ground Zero, a plan that was initiated by then Mayor and now Republican presidential hopeful Rudy Giuliani and now continued by current city chief executive Michael Bloomberg who is himself a very established economist. The new towering building will house a Four Seasons hotel in 22 levels alone. The rest of the structure will be dedicated as residential units. Construction will begin in June and the property is expected to be inaugurated come 2011. And that’s just a few of the bullish real estate offers in 2008. There are thousands more.