George F. Will once wrote that he preferred to be a pessimist, since it allowed him to always be correct or pleasantly surprised. Our current employment numbers, if you’re an optimist--or unemployment numbers, if you’re a pessimist--are not looking great.

54,000 new jobs is not a dynamite number when unemployment ticks up to 9.1%. Sure, sure, we are told that the increase in unemployment figures is sometimes a good thing. This means that more and more people are out looking for jobs, which is what the unemployment figures really represent. It means that people are becoming more positive.

Well color me skeptical. I hear a lot of good news rumbling around on the street. There are buyers out there hunting properties. Bidding wars are pushing private capital investors to dig deeper and engage in complex tranche strategies to get into properties at a more favorable cap rate. These are ways that the economy is booming.