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Putting the Gross Domestic Product reports aside and looking only at the Real-estate Sector, would you say we are in a recession already, nearing one or don't foresee one?
I've read where the cost of borrowing money has been to cheap from the fed and that's why were in this mess. Should be interesting what the board decides on Tuesday.
I think the FED will lower rates 25 basis points next week but too little too late. I am not crazy about Greenspan, but agree when he says Bush's monetary and tax policies were politically driven, which we are paying for now and I am afraid the pain is going to get worse.
This is not all sub prime mortgage based. Oil at $80 and commodity prices going through the roof are all contributors.
I hope I am wrong but I think tough times are on the horizon.
I think the FED will lower rates 25 basis points next week but too little too late. I am not crazy about Greenspan, but agree when he says Bush's monetary and tax policies were politically driven, which we are paying for now and I am afraid the pain is going to get worse.
This is not all sub prime mortgage based. Oil at $80 and commodity prices going through the roof are all contributors.
I hope I am wrong but I think tough times are on the horizon.
Little to late, I would have to agree. Now the sucking sound of the economy is getting louder. Oil topped off with job losses could send this all downj the drain. Let's hope were both wrong.
I find it hilarious that 6 months before the tech crash the media began asking the question and asked it every day, is it a bubble? I find it hilarious that 6 months before the housing collapse, the media began asking the question and asked it every day,is it a bubble. I knew, and I suspect many of you knew at least six months prior to the media focus on thes subjects that they were both bubbles. Just good ole common sense. Now over six months ago I became aware that we were in a recession. You may trust that it is not a mild recession. The housing sector will experience not a v shape recovery but a protracted lazy script u shape recovery. The bottom of that u will depend on how long sellers hang on to the unreality of a market that was set by less than 10 per cent of sales. How quickly attrition will reset the market. Lets see if realtors can be as influential in convincing sellers of the reality versus the dream. They helped to peddle the dream pretty well.
Politics will determine the length of the recession. The republicans will preside over a shorter recession the dems over a longer recession. Make no mistake, the recession is here and will last through the election.
Yes, a fairly serious recession is coming.
We should have had it in 2001, but dropping the rates so much for so long inflated a second bubble which delayed the recession from happening properly. Which makes this one harder.
Food costs have shot up, gas is up, housing through the roof (to be corrected somewhat). The economy has been driven by housing funded debt, most jobs created have been in the service industry (except for housing and those are dropping rapidly). We NEED a recession to clear out the fat, make America leaner and more competitive again.
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